I wish we could return to the old style European competitions. They were morally better.

European Cup: Only for individual league champions, and current holders. Played in straight knock-out format.

Europa Cup: For teams finishing either 2nd - 5th, or 2nd - 4th and including League Cup Winner.

Cup-Winners Cup: For teams winning domestic cup (or losing finalist if winner is in Euro Cup).

I know this will never happen because the big clubs would never allow it and they run football, along with TV, not UEFA or domestic FA's.