I'd be all for reducing the number of picks available/rounds in the draft to 3 (or maybe even 3.5, giving the non-playoff teams a fourth round pick each year to give a competitive advantage over playoff teams) and increasing the money pool available for the "undrafted" players - making salaries more competitive for those drafted outside of the first 100 or so players.
It would probably work out better for players in the long run too, as teams would be more likely to "reach" for players that they believe will make an immediate impact, whereas at the moment, teams will often draft for the future in the lower rounds and pick up a player that they don't necessarily have a need for, when another team was eyeing them.
An example would be our picking up of 3 RBs - a RB needy team might have been willing to pay more money than us for Collins or Brooks because they intended to play them more often than we might, for example. Getting exposure to gametime increases their value when it comes to second contract time.
It would probably work out better for players in the long run too, as teams would be more likely to "reach" for players that they believe will make an immediate impact, whereas at the moment, teams will often draft for the future in the lower rounds and pick up a player that they don't necessarily have a need for, when another team was eyeing them.
An example would be our picking up of 3 RBs - a RB needy team might have been willing to pay more money than us for Collins or Brooks because they intended to play them more often than we might, for example. Getting exposure to gametime increases their value when it comes to second contract time.