An MMO would not work, however a 3D game on the 360, PS3 and Wii would be awesome...
Think about it, you start off in what ever Region you choose (Kanto, Jhoto, Hoenn, Sinnoh and Unova (with more being added as expansions or something) Then you can choose your starter by either choosing the Region Starters (get your Pokemon by the Region Professor) or a Personality test for your starter (Which would be a childhood pet/friend or something) for example Caterpie, Buizel, Houndour etc.
ALL Pokemon are able to be found, however some require extensive searching and some (Like Jirachi, Mew etc) can only be found at certain times, or with certain items, maybe even getting your Pokemon to fully trust you. And like the DS versions, their are different versions of the game, so you will need to trade.
Levels work differently, Experiance is now Happyness, winning battles, grooming, giving the right food, will make your Pokemon happy, and this allows it to grow new levels(thats how it is done in the anime i believe, not just by battling) And once a Pokemon has learned a new move, it wont be very powerfull, the Pokemon must use this move a few times before it can Master the move (Just like Pikachu with Iron Tail)
It would work!
OT: The games are fine, the reason why Japan gets the game first is because the game is completely different there, The Pokemon Company (i believe) do that for us to make it child Friendly, they think of the English Pokemon names, without them, Pikachu would be called Sparkle Squeak...i kid you not.
Plus, do you know how hard it would be for Nintendo to have SEVERAL Events all over the world?
their is a reason they do that you know.
Other than that your complaints are nothing new, if your fed up, move on, and leave the Pokemon games to people who enjoy them...
Like me! XD