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I see the fatal flaw as the "media" portion of this idea (I would say there are other flaws, but I see this as the biggest).
Media needs revenue, which means advertising which means viewership.
Did the media go nuts over the nobody candidate in California or did the go nuts over the Ahnolds, the Gary Coleman's and the Mary Carey's?
You argue that utopian ideas are incosequential and then interject ideas that require utopian thought (i.e. the media, any media, will report fairly).
What you are proposing isn't just a change to our political party system, but to our system as a whole. Freedom of the press meant no gov't controlled or sponsered media - A BBC-esque outlet would be just that.
It's not that I don't agree with some of the basic ideas, it just seems that you are inserting evil to combat evil.
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