I do not believe the Electoral College system should be changed. For one it would be very difficult to change, as with many structural reforms to the US political system.
The Electoral College has been around since the beginning of the present US political system, and although it has produced results that have been controversial (such as in 1824 and 2000 to name a couple) the vast majority of US presidential elections have elected the candidate who was chosen by the majority of the electorate.
The EC system is simple to understand and well suited to the US political system. The fact that the US has two dominant parties means that the US can afford to have a majoritarian system without a significant democratic deficit. Other than in years with particularly close results (again, 2000) there is no dispute over who wins the election, no wrangling over who leads the next administration and no shaky coalitions. Compared to much of Europe the US political system and elections are clear-cut and decisive.
However I would add that if there was a significant third party in the US (such as the Reform Party in the 1990s) then the US would have cause to consider electoral reform. But until then I believe it is better and simpler to retain a system which works on very nearly all occasions.