I agree that we need to do things differently than we do right now. By the way, if we had that 8-team runoff I doubt TAMU would be in it, as they finished third in the Big 12.
In the big picture, whether or not we have regional meets of some kind does not matter. What matters is that the regular season, the six weeks between the end of indoor and the conference championships, has absolutely nothing at stake. Whether an athlete (or, in the rare scored meet, a team) wins or loses literally doesn't matter one bit.
Example: at the Pepsi Challenge in April, you got the distinct feeling that neither Lananna nor Henry cared all that much about who won the meet, that it was all about prepping the team for June. Oregon won and TAMU was still ranked #1 in the USTFCCCA ratings the following week. These are not good for getting people to be interested in track, because you're telling them that the meet is of no real importance and so there's no reason to watch.
On a related note, Lananna and Henry have been the biggest detractors of regionals, but Mike Holloway has been mum and his Gators are likely to run away with it in two weeks. UO and TAMU's athletes have to think of the meet as something to be endured rather than the first step to a championship. (This is the ONLY time you'll see me second-guess either of their coaching decisions, but I think this is a major mis-step on their parts.)