Is it really that bad though? Everyone was bitching earlier in the season about the Pacific, and divisions having a team miss out over the #3 team in a weak division...but the top 8 teams in both conferences are the ones that are going to be in the playoffs. I actually really like the divisional format, the only tweak I'd make is the wild card setup. This year you obviously have two strong divisions with Metro and Central that claimed both wild cards in their conferences...but in years were each division claims a wild card and you'd have the top 4 in each division going to the playoffs, they should just lock in each division and not flip the wild cards to the other divisional bracket even if their seeding would normally make them move over.
The only problem I could see with it is in the East, where if you don't give Florida too much credit, Caps and Pens seem clearly a cut above everyone else currently (and with Tampa's rash of injuries), but they could meet no later than Round 2.
Funny enough, if the Isles managed to win today, I could easily see a potential path for the Caps being a revenge tour of the Ovechkin era (minus Montreal). Philly in Round 1, Pittsburgh in Round 2, and a resurgent Rangers after they get through the Atlantic bracket in the ECF. Obviously the big hurdle would be the Pens in Round 2...you know, assuming we don't choke in Round 1.