Here's my "dream" formation, I'll call it Shotgun, Quads Right:
.....................................TE...LT...LG...OC...RG...RT......................................................WR
........................................................................................WR.......WR.......WR
..........................................................QB
Now keep in mind it could be Quads Left and/or you could line the WR's up in any way you choose.
I wonder why this formation has never been used before?
This is the not unheard of, it's called the "bunch" formation. It goes back quite a ways, to at least the run & shoot days. Everyone from the Houston Oilers to Tex Tech have run some form of it. Here is an example of LSU running something similiar, but with a weak side WR rather than the TE.
FRI_8V4G5g4
A good change of pace formation, but not something you build a power team around. Especially with NU's abundance (at least perceived) of returning TEs.