If WRU can only afford 3 regions why not have West Wales (Scarlets & Ospreys), East Wales (Cardiff & Dragons) and London Welsh (Ealing), with players redistributed across the 3. Probably means Ealing have to leave RFU and join WRU for regulatory purposes.
Get rid of the 60 cap rule so the very top players can move elsewhere to get a realistic salary in line with their peers in other countries too.