One perk of no longer being at Oxford is no longer having to participate in the annual admissions interviews, which are pretty draining for staff as well as candidates. One way to simplify the process, somewhat at least, would be to use a lottery to decide between suitably qualified applicants. I advocated such a proposal here.
This recent US-centric piece also advocates lotteries, noting that they allow colleges to draw in more diverse classes without requiring quotas (which are apparently unconstitutional in the US). Peter Stone - who drew my attention to this piece - is also an advocate of lotteries.