The Right Path to Take...?

So from Roberta's post today on the artblog and from conversations I've had with a few bigwigs, it seems that there is gathering momentum to do something more grand (and in my estimation needed) to promote the Philly art scene. I would love to hear some opinions on possible pie-in-the-sky scenarios that could get this done and what that would mean. ie possible problems, winners, losers, etc.

- A Philly Biennial

- A City wide contemporary arts prize

-A Philly Contemporary Art Fair

-Some combination of these?