Their is talk of applying a two or three tier scheme similar to the rules in the system AA exploited so diligently. MLB will surely modify it so that players with limited service time with a team would fall into the B or C category, netting something similar to the compensation picks of the past, while leaving type A free agents as the only classification that would cost a signing team a 1st round pick.
I think having the B pick fall into a 3rd/4th round range sandwich pick, and the C maybe between the 10th/11th round would be fantastic. I agree with you though, even if they went back to the exact same system as before it would be better than the current one, which really has the players union fuming because of all the potential FA money being left on the table.