I think the problem becomes we're then watching a 6 hour game because it takes so long to review all the "questionable" plays. Every close offside that leads to a goal, every bloody nose (a la J-Bo last night) that doesn't result in a penalty, it would end up being too much.
I think it would make more sense for call to be more consistent; none of this "letting them play" talk, how bout a penalty is a penalty. If you called it all the time, players would get used to it. The issue in my eyes is that they get away with something one game and not the next.