Interesting idea.
One interesting but unworkable idea I read to speed up replay was to only allow the referee to look at the replay at half speed, no slower. The upside of that would be they wouldn't be spending minutes looking at each and every frame, and perhaps the calls would be closer to "50 guys in a bar" instead of the tedious mess we have now. The downside would be that the fans at home would still be seeing the network views that are made after a truck full of people look for the one frame that shows something significant, so it's unworkable.
Yes, I know the current system favors teams that coach to the rules like the Patriots do, and yes, we're getting better calls over time. However the cost of all this is a game that's just not very fun. We see a bang-bang play, then everything stops while one guy holds up a computer and another guy sits there and watches what some corporate stooge in NYC chooses to show him for the next three minutes. Hopefully we can do something to get both fast and accurate calls.