I would love to see this happen but don't think it will. Can't see Oceania (the countries other than NZ) wanting to remove themselves from the teat. I would imagine the middle eastern countries would love to get rid of the far eastern lot though.
Would be a disaster for our chances of World Cup qualifying - 2.5 spots for Japan, Australia, N & S Korea, China, us...
On the other side of the coin, better regional competition.
So we'd get regular games against 3 teams who regularly go to a world cup? Home and away? Chance to host the Asian Cup possibly or co-host it? Sounds farken brilliant to me! If we can beat them and claim a cup place, we'd have bludy earned it and be ready as all heck for the Cup. Regular international football against serious opposition and a chance to build up meaningful international rivalries. A dream if we could do it.
Would the Middle East really be so keen to lose the East Asian teams?