Here's what I'd like to see:

1) A new workable PB cap that keeps teams from amassing too much talent.
2) Lowering the roster retention number to 24. In a 20 team league that means there will be 60 additional players in the FA draft (which will of course be 11 rounds now) giving poorer teams a shot at more keeper type talent.
3) The FA draft become more record based. Maybe something like the RT monthly drafts where there is a lottery within 4 distinct groups ?

This gives the lesser teams first crack at the rookies and first crack at a much deeper FA pool.