The case against the Electoral College:
http://www.fairvote.org/op_eds/electoral_college.htm
A candidate who lost the popular vote may have been elected president. To remedy this clearly undemocratic result and the general problem of most states being entirely ignored because they are not competitive, the Center advocates a direct popular election with a majority requirement
http://www.sidems.org/electoral.htm
http://en.wikipedia.org/wiki/U.S._Electoral_College
Supporters of direct election argue that it would give everyone an equal vote, regardless of which part of the country they live in, and oppose giving disproportionately amplified voting power to voters in small states. In contrast, the Electoral College disenfranchises those voters in every state who cast their votes for the candidate receiving fewer votes in that state. And it also partly disenfranchises voters in larger states by reducing their proportional contribution to the final election result.