I think directly electing the President with a Popular Vote and Instant Run-off Voting system would be better than the Electoral College. The main problem that the Electoral College was meant to address is now less of a problem and small states still have clout with the Senate. A Popular Vote would also mean that red state Democrats and blue state Republicans can have their vote actually count.
Majority rules is true democracy and it's one of Plato's perverted forms of government. When majority rules, it becomes a mob. One day the people can decide to ban drugs and the next day legalize them again. There is no stability in such a see-saw society.
You seem to have forgotten about the Senate.