I've never been very happy with the way we vote here, using plurality or "first-past-the-post" voting, but most of the proposals I've seen for reform leave me cold.
Apparently "benham" thought I was referring to IRV ("instant runoff voting," usually referred to in older literature as "alternative vote") and asked what about that system leaves me cold. Actually, in a system such as Australia's, where there are really only two parties that count (actually three, but the Liberal and National parties are so closely aligned that they can be considered one party), I think it works rather well. If you like a minor party, you can give it your first preference, then save your second preference for a major-party candidate and actually make a difference to the voting result. I'm not so sure it works as well if you have a number of different parties which agree on some issues and disagree on others, but I've never seen a place other than Australia that uses it (it's been adopted in some cities in the USA, but so recently that the results of the experiment haven't been seen).
Actually, the systems that "leave me cold" meant approval voting, the Borda Count, and Condorcet voting, and there will probably be further posts of mine addressing these specifically.