Rock, I understand where you are coming from. But, the way that Memorial Stadium has been constructed and added on over the years, I think a balcony on top of the South End Zone would be a bad idea. Not only would they be super far from the action, but they would be higher than the current West balcony. The reason the new addition on the East stadium "works" is that the seats are on the sideline, so you even though the seats are super high up, they don't feel as far away from the action. I have sat in the upper rows in both the South and North end zones, and frankly they weren't very good places to watch the game. I couldn't imagine being in a balcony, even further up and away from the action. Plus, a balcony would create obstructed view rows in the South end zone. I have sat under the balcony in the East stadium, and it sucked because the balcony got in our sightlines were obstructed by the balcony.
A row of skyboxes wouldn't be a terrible idea because the people in the skyboxes are there more for the "party" than the game, and there isn't anything wrong with that.