The JP trophy idea is certainly a good one.
In terms of European qualification - personally, I'd have the top 3 qualifying for the CL, and then the FA Cup winners taking the fourth spot. That would get the bigger teams interested again, especially considering that there are effectively 6 teams going for 4 spaces now and it's not always guaranteed which 4 teams will get those spots.
I'd also get rid of his b0ll0cks about losers getting into Europe if the winners have already qualified. Nope. In that scenario the spot should go back to the league.