I'm all for dropping an at-large bid and just opening a spot for the two play-in teams. People would complain about the big conferences losing an at-large bid... these 11 and 12 seeds probably aren't winning the whole thing anyway.
At least you're rewarding the teams who actually won their conference, which I like, and you'll still get your first round upsets from time to time. There are two things we usually like about the tourney... watching the small schools earn their one shot to take on the big boys in the 1st round... and then beyond that, watching the conference leaders like UNC, Kansas, UCLA etc meet in the later rounds. Not sitting here figuring out a bunch of average teams in major conferences that you can barely tell apart.
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