The observation of the recent electron neutrino appearance in a muon neutrino beam and the high-precision measurement of the mixing angle $theta_{13}$ have led to a re-evaluation of the physics potential of the T2K long-baseline neutrino oscillation experiment. Sensitivities are explored for CP violation in neutrinos, non-maximal $sin^22theta_{23}$, the octant of $theta_{23}$, and the mass hierarchy, in addition to the measurements of $delta_{CP}$, $sin^2theta_{23}$, and $Delta m^2_{32}$, for various combinations of $ u$-mode and (bar{ u})-mode data-taking. With an exposure of $7.8times10^{21}$~protons-on-target, T2K can achieve 1-$sigma$ resolution of 0.050(0.054) on $sin^2theta_{23}$ and $0.040(0.045)times10^{-3}~rm{eV}^2$ on $Delta m^2_{32}$ for 100%(50%) neutrino beam mode running assuming $sin^2theta_{23}=0.5$ and $Delta m^2_{32} = 2.4times10^{-3}$ eV$^2$. T2K will have sensitivity to the CP-violating phase $delta_{rm{CP}}$ at 90% C.L. or better over a significant range. For example, if $sin^22theta_{23}$ is maximal (i.e $theta_{23}$=$45^circ$) the range is $-115^circ<delta_{rm{CP}}<-60^circ$ for normal hierarchy and $+50^circ<delta_{rm{CP}}<+130^circ$ for inverted hierarchy. When T2K data is combined with data from the NO$ u$A experiment, the region of oscillation parameter space where there is sensitivity to observe a non-zero $delta_{CP}$ is substantially increased compared to if each experiment is analyzed alone.
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