I have questioned the need for an Electoral College in recent years. It is an antiquated system in a modern world with instant and live streaming of results. However, it protects states that have smaller populations. If the election was based on the popular vote only, then candidates would only focus on CA, TX, FL, NY, PA, IL, etc. The rest of the country would be left in the dust.
However, I would favor a system that Maine and Nebraska uses: congressional districts. The state receives a certain number of electoral votes based on population, but the state is not a "winner takes all" approach. Each district offers up 1 EC vote, and the state can be split based on demographics. This seems to be the fairest system.