I would've liked to see them keep Sirius for ONE more year with the new sound system. In my opinion, no one gets into Sirius because NO ONE CAN FREAKING HEAR IT!!! Nothing more embarassing than a drummer like myself hearing people clap off-beat because they don't have rhythm or they can't hear the song.
Mind you, I am not a blue hair, I just turned 27, and think there are so many songs you can screw this up with and I'm sure it will be screwed up somehow.
Back in the mid 90's the song sounded loud and was coming at you in every direction. That was bone chilling and awesome! When I was in the student section, I could never hear the song. I went to the Iowa game this past year, and was right behind the North endzone, and I still couldn't hear the song.
So that would be my proposal/reasons for why it's not as good as it used to be.
In regards to a new song, I think you have to keep it as an instrumental. An intimidating, yet huge build up for the crowd/players as an instrumental. That was the great thing about Sirius. There was a build-up, you could sense it, feel it, which is why one more season with it under the new sound system might have done wonders for it.
Good songs will be timeless, no matter the year or age group listening to them. Just because it's "some old 80s song by a band way ahead of their time" doesn't mean it's a bad song for us and what it used to bring us memories of and hopes of capturing those memories again.
I just hope it's not a complete and utter disaster like 2007 was.