I really would enjoy it if its this format.
1) Add Dayton. 30 teams.
2) Break it into geography/historic rivalries:
West: Stanford, Cal, Creighton, SMU, Marquette, DePaul, Xavier, Dayton, Butler, Louisville
South: UNC, Duke, NC State, Virginia, Virginia Tech, Miami, Georgia Tech, Florida State, Clemson, Wake Forest
East: UConn, Boston College, Providence, Syracuse, St. John's, Seton Hall, Villanova, Georgetown, Notre Dame, Pittsburgh
3) Expand conference games to 22 or 24
4) Implement round robin within divisional opponents, play two (or four) games per year against other divisional foes. Marquee match-ups only, so ESPN/FOX/Turner are happy.
5) 16 team tournament at MSG. No byes.