The surprise theory of everything: The question is whether we can express the whole of physics simply by enumerating possible and impossible processes in a given situation. This is very different from how physics is usually phrased, in both the classical and quantum regimes, in terms of states of systems and equations that describe how those states change in time. The blind alleys down which the standard approach can lead are easiest to understand in classical physics, where the dynamical equations we derive allow a whole host of processes that patently do not occur - the ones we have to conjure up the laws of thermodynamics expressly to forbid, such as dye molecules reclumping spontaneously in water...
Apply this logic more generally, and time ceases to exist as an independent, fundamental entity, but one whose flow is determined purely in terms of allowed and disallowed processes. With it go problems such as that I alluded to earlier, of why the universe started in a state of low entropy. If states and their dynamical evolution over time cease to be the question, then anything that does not break any transformational rules becomes a valid answer.
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