I just sent my renunciation application to CGINY. Let's see if they bother me about my passport having expired in 2005...
I will try to apply for OCI after that. I didn't do it simultaneously because I need my passport for the end of the month. Also, since the passport did expire so long ago, they might wonder why I suddenly want OCI to go to India right after getting citizenship when I never renewed my passport for the last 6 years to go to India. This way, they will possibly wonder about the expiration date for the renunciation, but since it's just that, they'll probably let it pass. Then, after a month or so passes, I will submit the OCI application and hopefully it'll be ok. I might not make sense, but I feel better doing it this way.
Also, I think Indians are eligible for 10 year tourist visas again.