Oh the irony, Simon dies because of the love he has towards Erza, and she dies because of the love Kagura had for Simon.
Pulling that sword I'm pretty sure either one of those 2 die. It would be interesting if Erza actually dies, time-travel would be a sure thing to do for all of FT guild + Jellal. Also, because of the reactions I guess pulling that sword means Kagura will also die because of some side-effects.
Now there's an interesting thing considering Future Lucy. Jellal doesn't trust her. I guess he has his doubts because, well, this is just my speculation: she emits the same power Zeref has. She tells us she's come from the future now, but...The power she emits was present for 7 years of Tenrou team absence also, meaning she would've been there 7 years already, why is she so exhausted? Travelling back and forth through time doesn't make sense also, because of the amount of magic required for Eclipse, there's no way they'd collect so much of it during that supposed "post-apocalypse" scenario to go in the past...it's also kinda wierd why is she transmitting Zeref's magic, the connection between the 2. The 'impossible' outcome is also fishy... RAAAAH, so much to think about. So many possibilities...
EDIT: I think all of Kagura's strength is actually the sword itself, and since it is cursed it formed a pact with her: give her the strength to revenge her brother, no matter the foe in trade for her life.
Let's be real, Erza was suggested as a possible Wizard Saint, to be able to overwhelmingly defeat her just like that means Kagura is Makarov lvl, or atleast very close to it...or maybe even stronger because we don't know where her power ends now with this chapter. It must be some kind of fake, she was also very confident to even kill Jellal who is confirmed WS power, who would've roflstomped Jura in a serious fight...