The NFL has unveiled a new "system" of designing future Super Bowl logos: put no design into them whatsoever. Coverage from ESPN and a photo of the template as it applies to Super Bowl XLV can be found here.
As the Super Bowl will be hitting Indianapolis in February, 2012, I decided I wanted a better logo than the corporate-tastic silver blob the NFL is proposing.
#1, based on the flag of Indianapolis:
#2, reminiscent of the "Wing and Wheel" logo of the Indianapolis Motor Speedway with some racing flag colors:
#3, subliminally reflects the logo of the host team, the Indianapolis Colts:
As the title of this post says, a better idea (or three).