Again. Untenable. You'd have cards full of draws and then no basis on which to decide who was a contender, who was an up and comer, who was on their way out etc. You'd get people with records that look like this 1-3-10 (with the 10 draws being GSP v Fitch beatdowns in their favour), looking worse than people with records like this 3-3-8 (where the 8 draws are them getting beaten silly for 3 rounds).
Not much you can do about the occasional mis-decision. its just the way the sport goes! changing the rules to increase the amount of draws, ends up with a situation PASmith mentioned, and it's not really fair to the person who controlls the match. In a situation like this its imperitive to have a rematch as soon as the fighers are ready IMO...
The real problem is the judging. They don't judge allowing for the nuances of each round. A person can win a round by utter domination, mostly domination, a bit of domination or a little domination and still most judges would score it a 10-9. There should be degrees of winning a round (that is actually allowed under the current system 10-9, 10-8, 10-7). That there is basically 10-9 = scraped by, 10-8 = clearly dominant, 10-7 nearly finished the other guy. Judge like that and draws and bad decisions would get less I feel.