Brock,
It's an interesting idea that might see the light of day as a "specialty end of season event"
There's far too much money at stake, and, I doubt the PGA or USGA would implement a drastic reduction, or any reduction in the number of clubs.
However, if the scoring you reference should find its way to ANGC, I think you'd see dramatic changes, epicentered in Augusta, traveling to Far Hills and PGA Headquarters.
Within the last month I witnessed a 6 handicapper, and a mediocre one at that, hit the tiny green on the par 5, 620 yard 5th hole at Pine Tree in two.
He made the putt for eagle.
PGA Tour Pros couldn't do that years ago, and now, it's almost becoming commonplace amongst strong golfers from mid to low handicap.
Yet, nothing is being done to prevent increased distances from being produced.
The answer begins with the ball, whether it be increased spin rates or compression oriented, something has to be done, but, with the USGA losing significant sums in the recent market, I don't see it.
ANGC is our only HOPE.