I hope above anything we do not get a hung Parliament this would be the worst thing possible for the UK all that secret meetings between Political Parties without us even having a say. If the LibDems get their way we will have a proportional representation system like they have for the European Elections which will allow all the Small parties who have no real Voter representation to be the Power Brokers can you imagine having the BNP or even worse the Greens in the Cabinet.
We should have a new voting system as the present one is to unjust and is bias in favour of the Labour Party you could get the situation where the biggest percentage of votes could go to the Conservative party but the Labour party could still have the most MP's. The proportional system I would like would be where in every constituency each Candidate would have to gain 50% of the vote cast if they do not get this they go another vote where only the top two go forward and then it would be first past the post (I believe this is what the Labour Party want).
As for the LibDems idea of Proportional representation, well do away with the House of Lords and create a Second Chamber with the same sort of powers of the Lords and us the system where you elect parties i.e. if their is a 100 seats to be won the Conservatives get 40% they get 40 seats, Labour 30% 30 Seats if the BNP get 1% they get 1 seat and so on.
The main government would be still be run by the 1st house and secondly make it a legal requirement for people to Vote.