Here is what I propose, real simply....
1. For Voting, it should be a more simplistic screen, a la arbitration or free agent targets, with ease of voting. everyone team should be required to vote, or their votes are auto made in some way. Otherwise, the amount of votes needed to get someone in never happens.
2. Their needs to be a tighter nomination process. Because of how many people are nominated, and how few votes go around, it's a silly process. Minimum criteria?
I know this is pretty petty to argue about. But, if the HOF player somehow tied a credit to WIS (reward for your player being named to the league HOF) this might incent people to take it more seriously and actually add some juice to it.