I know I'm late to the dance on this subject but it's tough for me to post from work. I can read the blog, but not "talk", as it were. Since there are already 4 FP's on this subject, it's obvious it's near and dear to all our hearts!! I've set a up a poll, since we're all so opinionated (said with a smile), with various options. Cast a vote, will be interesting to see what everyone thinks...
My personal favorite is as follows:
Before the 4-year guys jump through their hoops and accept their accolades, have PPat come out for a "Academic Senior" award for graduating in 3 years.