Rewrite the whole thing
Personally I would like to rewrite the entire constitution, both to update some of the language and fix various problems. Unfortunatly, it won't work because in the current environment any attempt to do so would hopeless mess things up.
If we let the current crop of politicians, lawyers, and lobbists rewrite the first admendment it would probably end up being 10 paragraphs long and define seperate rules for political, commercial, religious, government, and non-profit speech. Private speech would have been dropped from the list as not important enough to cover though.
Jay