I would feel much better returning these lands to the Catholic Kingdom of Mejico & Nueva España rather than the failed state known as the Republic of Mexico whose most lucrative export is her own citizens. Even though Mexico is a fascinating country with a beautiful Hispanic-American culture there are major issues that the Mexican government has failed to solve (perpetual violence, corruption, & poverty). If these territories became Mexican during this present time all the bloodshed, crony-ism and ineptitude that Mexico is suffering would cascade into these northern lands. Also one should note that there is strong anti-hispanism and anti-clericalism within the Mexican government until this day; leftovers from the Cristero War. As a LEGAL immigrant living in Texas I can confirm that this would be a disaster for all Americans regardless of there ethnic backgrounds and detrimental to Western Christendom as a whole.
P.S.
Just remembered Reno, NV also has a Spanish nameThe only municipality I can think of in Nevada with a Spanish name is Las Vegas.
What I propose is that there should be a creation of academic, religious, cultural, and commercial alliances between these formerly Spanish territories (AZ, CA, NM, TX, FL) and the Iberian fatherland as well as other nations which share a Hispanic heritage (Phillipines, Argentina, Brazil, Colombia, East Timor, Angola, Peru, etc etc). And a common Catholic heritage (Ireland, Italy, Poland, Hungary, Malta, Quebec etc). Now this would be beneficial for Western Christendom!
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