This is going to be a radical idea, but since we currently have Harry Reid as the majority-leader in the Senate is something to think about. What if instead of having a vote for leadership, the VP automatically became the leader of the Senate (when the VP's party is in the majority)?
What I mean here is that besides presiding over the senate (which the VP has rarely done in modern times) and casting a tie-breaking vote, the Vice-President should influence what legislation is passed and take on the role of majority leader.
It seems odd that so many people view the VP job as a waste of time. Obviously, Cheney has had huge influence over policy these last 8 years. Sen. Obama has promised the same type of power to Sen. Biden saying that Biden will help him govern.
The VP could do so much more than that though. Especially with things in the Senate being so close and losing Biden in the Senate, the VP could be a seriously powerful position to have.
Immediately I see some problems with the idea...people will say the Executive will be too strong, goes against tradition etc. Personally though I think that when the Democratic Senate has had a chance to select it's own leadership it has failed again and again. In my own fantasy world I'd make the VP the head of the Senate and make him earn his yearly paycheck!