I agree with your recommendations, but question whether there is the time to provide personal interviews. There is certainly great merit to the interview process, and doing it online would certainly make it more attractive to those students who don't have the funds to travel around doing interviews. Even more importantly, in my opinion, it would bring back a focus on originality and clear thinking which has been lost with special tutors and coaches helping students write perfect essays and espousing the joining of organizations purely because they will look good on the C.V. when they apply to the "right" college.
For goodness sake, let them enjoy what may be the best time of their lives, and not have to concentrate on getting a 4.0 with year-round extra curricula. Mother Teresa herself would probably not get in to the top schools - she had only one focus, didn't dress well, and spoke only two languages.