More like a Coral Sea battle, or the series of attritional battles fought around the Solomons.

A review of the plans for evacuating Wake might add something to this thread. I suspect that continued Japanese pressure would have led to evacuation. The postion of Wake makes it easier for the IJN to fight on its terms, rather than out on a limb as in the Solomons/New Guniea region. The US is not nearly as far along in decrypting IJN radio traffic as well, so a suprise upset as at the Coral Sea or Midway is less likely, tho not impossible.