Both timeframes are based on the same basic principle, which is why I think it's a good model. Make the big changes now, so that when teams are moved or added (or subtracted), it will make slipping them in, out, or around a lot easier.
Short Term
The first option uses only existing teams. It uses the 4 Conference model. It would be as follows:
Great Lakes Conference
Montreal Canadiens
Ottawa Senators
Toronto Maple Leafs
Buffalo Sabres
Philadelphia Flyers
Pittsburgh Penguins
Columbus Blue Jackets
Atlantic Conference
Boston Bruins
New York Rangers
New York Islanders
New Jersey Devils
Washington Capitals
Carolina Hurricanes
Florida Panthers
Tampa Bay Lightning
Midwest Conference
Detroit Red Wings
Chicago Blackhawks
Minnesota Wild
St. Louis Blues
Winnipeg Jets
Nashville Predators
Dallas Stars
Colorado Avalanche
Pacific Conference
Edmonton Oilers
Calgary Flames
Vancouver Canucks
San Jose Sharks
Los Angeles Kings
Anaheim Ducks
Phoenix Coyotes
Some of the alignment choices may seem a bit weird now, but they'll make sense in a minute. The other thing that is a bit weird with this type of alignment right now is that some conferences have 7 teams, while others have 8. That can be temporarily solved with the introduction of a cross-over (i.e. if the 5th place team in the Atlantic Conference has more points than the 4th place team in the Great Lakes Conference, then they get the spot instead). Not ideal, but it'll work. Ideally, the top 4 teams in each conference would make the playoffs, where they would play each other in the 1st two rounds.
Long Term
The reality is that at least one of the current teams (looking at you, Phoenix) is only a matter of time before they pick up and move. The most logical place at this time is Quebec City, mainly because they're the only ones with significant interest, and who also have an NHL-sized rink on the way. The model below assumes that Phoenix moves to Quebec City in the next couple of years.
Realistically speaking, the NHL has 5 potential markets it can expand to: Seattle/Portland, Las Vegas, Kansas City, Hamilton/Kitchener, Quebec City. The Atlantic Coast isn't getting any more teams, neither is the southeast (Jacksonville and New Orleans aren't exactly high on the list right now).
This leads to a readjusted model which slots 2 potential expansion teams into the mix, and has Quebec City added (formerly Phoenix).
Great Lakes Conference
Quebec City
Montreal Canadiens
Ottawa Senators
Toronto Maple Leafs
Buffalo Sabres
Philadelphia Flyers
Pittsburgh Penguins
Hamilton/Kitchener
Atlantic Conference
Boston Bruins
New York Rangers
New York Islanders
New Jersey Devils
Washington Capitals
Carolina Hurricanes
Florida Panthers
Tampa Bay Lightning
Midwest Conference
Detroit Red Wings
Columbus Blue JacketsChicago Blackhawks
Minnesota Wild
St. Louis Blues
Winnipeg Jets
Nashville Predators
Dallas Stars
Pacific Conference
Edmonton Oilers
Calgary Flames
Vancouver Canucks
Colorado Avalanche
San Jose Sharks
Los Angeles Kings
Anaheim Ducks
Seattle/Portland
Under this model, the only existing teams that get tossed around a bit are Columbus and Colorado. Unfortunately, because of the shift of Phoenix, it throws everything a bit off temporarily until two extra teams get added (one in Hamilton/Kitchener, and one in Seattle/Portland). However, if either Las Vegas or Kansas City would get the team instead, Colorado would just flip back to whatever conference that new team wasn't in.
There are two really big advantages to this model over the current 2 conference system:
1) Travel: For teams like Detroit and Columbus, who are in the Eastern timezone, playing in the West is pretty tough. By creating a Midwest Conference, this assures them that all conference games will be at the very latest starting at 8pm ET. In fact, this model assures teams that no conference straddles more than two timezones, meaning no more than a 1hr difference in time.
2) Rivalries: Because the 1st two rounds of the playoffs would be played within the conference, it would create some pretty good rivalries. Let's face it, nobody really cares about a Philadelphia vs Carolina 1st round match-up, they want Pittsburgh vs Philadelphia or Calgary vs Edmonton. And because each conference would have a regular season champion, it would give some secondary bragging rights, because let's face it, right now winning the Division title means pretty much nothing.
So there's my idea for realignment, let's see if the NHL will make a bold change, or settle for a minor one.
