Abe,
I have thought about this subject many times and I think there is definitely some merit to it. I think for years, the band was afraid of being cheesy, but you don't have to be cheesy to be showy or entertaining. It wouldn't require an overhaul of the band, just add a current top 40 hit each week during the season.
Did you see the Rutgers/Louisville game? The Rutgers band was ALL over ESPN all night. Why? Because they had simple horn movement crap they were doing, and that was more flashy/interesting than just showing fans all night. The SMU game last week? Huge empty spaces in the stands, looked like random students just showed up with instruments.
BBall band, on the other hand, has no real "tradition" in my opinion and could totally be an all out pop-music band.
RGV, for the size issue, I too would love a mega band blasting pony battle cry, but doubling size is a lot more difficult than changing styles or playlists. With SMU's student demographic, it's not really the "I did marching band in high school" students roaming our campus. But, I think a band of 120 would not be impossible.