The system doesn't seem to work to prevent a tiny few states from deciding the direction the rest must go, it just shuffles them around. Instead of states like California, Texas, and New York having the biggest say, we have states like Ohio, Virginia, and Florida doing it. I don't see how that's an improvement, and it actually looks substantially worse to me.
States like CA, TX, and NY still have their say, AND states like OH, VA, and FL. It only takes 11 states to win the electoral college (CA, TX, NY, FL, IL, PA, OH, MI, GA, NJ, NC), but those never agree, and likely won't, that's when other states come into play.
With a popular vote, instead of candidates trying to vie for states by visiting regions in them, would hit a few hundred cities that they would already hit in the Electoral College process, but then stop there. It would effectively leave entire states out of the campaign process. That will only be magnified as we switch to the Internet for our media, so I think it's still worthwhile to get candidates out there hustling for votes, in front of hundreds of local media outlets while they exist. I genuinely think it helps vet them, as it gives the more opportunities to say things, including "the wrong things", and things that will change peoples mind's.
I fear when we start cutting back on physical appearances, we'll get to the point where the Internet is all that's left. Then they'll control the message completely. Imagine candidates who not only don't answer question, but seemingly don't get asked them. At least we currently have people who throw metaphorical wrenches at the seemingly monolithic candidates, hoping to snag them.