I suspect that the M88 Captains will go to the 737/320 in the same base (if they can hold it and are local or like their commute). But, all bets are really off - from watching previous displacements, it's really a crapshoot where people go. Some go back to being an FO on larger equipment, some stay with the airplane and switch bases, some stay as Captain on the different airplane.
The only thing is that some of the M88 Captains are pretty junior (maybe not MSP but ATL it's true) so they can't go to another Captain seat and have to go back to the right seat.