At least you can vote them out at the next election. I personally prefer the irish/German/Israeli model (there are others-U.s for eg) - ie they all have figurehead presidents who are elected - ie the people have their say and as you correctly state above - anyone can become head of state - no matter what the circumstances of their birth.
Hereditary privilege is just plain wrong - in our new republic we would seperate church and state, end the house of lords in favour of a reformist elected slimmed down upper chamber, do away with all hangers-on - Dukes, Earls, Baronets, Lords etc , end the ridiculous honours system, split the executive from the legislature and generally create a meritocracy where power runs bottom up not top down.
We would return the country to the people and not just via symbols but real practical measures that give people the chance of a stake in society with hard work and responsibility. For eg we would nationalise the credit reference agencies so there was just one for any consumer credit and mortgages could again only be 2.5 x income with unsecured credit capped at 20% of take home income. We would actively encourabge the halving of house prices and tax 2nd homes at 100% of their value per year etc etc...
As citizens (not subjects) we would all sign an agreement with the state outlining the rights and concurrent responsibilities and if we broke it there would be penalties. Citizenship rights and reponsibilities would be taught in school. Respect of the state and the law would be re-instated and institutions such as the Police modernised to reflect the new raelitiesd and start to earn back that respect.
We could cut crime in half in 5 years - but that is another story and my soap box is getting worn again.
G/L