I know, nothing more exciting than weighing the pros and cons of various balloting methods. Are you a pure list PR partisan? An IRV man? Favour the German system?
Democratic space has submitted a proposal to the Ontario Citizen's Assembly for a mixed-member PR reform. I'm very impressed, and only partially because it closely mirrors my own thinking.
That said, it's very, very important to remember that proportionality is not, in and of itself, a virtue. Rather, we want PR because it adds democratic legitimacy to our governments that usually lack it. (Bizarrely, Canada's last two governments may be the most "legitimate" we've had in a while.) The other way to add legitimacy to a government is some kind of ranked ballot.
In the simplest system, IRV, voters rank their choices. The lowest ranked candidates are removed, the votes are re-tallied based on that candidates' voters second choices, until a candidate comes out on top with 50%+1 of the vote. If we had this today in Parliament, I can honestly say I have no idea of how many seats any party would have. The point is that each and every one of our 308 MPs would have more than 50% of the vote in their ridings.
I actually think that IRV might be more realistic in the short term for Canadian politics, in that it requires the least change to the makeup of Parliament - no Province needs to lose a seat, and I suspect you might be able to bring it in without any kind of constitutional change, if you were smart about it.