It seems to the fiscally uneducated (me) that most of the problems in the 
.com domain space are caused by the low pricing. It isnt hard to monetise a 
domain name when it costs $5 per year, it is also profitable to cybersquat 
on dropped names, if you only need 1 in 100 to pay you $500 ransom to break 
even.

1) Keep at least initial reg fee high to reduce speculation (If someone is 
serious about a domain name, the reg fee is pretty irrelevant)
2) Reduce renewal fees to as low as possible.
3) Ensure registrars do not use there position to gain advantage over the 
man in the street
4) Relax policy on registration criteria
5) If a domain holder has more than X names, they are required to meet a 
code of conduct

Cheers Tony