I know it is being discussed, and I am wondering who is for it. I think it's a great idea, along with other changes to the FTP. It doesn't make sense to play a country in four test matches, then play them again in three months for four more.
They all need to be on a cycle like the Ashes, home and away every x years, it creates excitement, and allows you to build up to the next series.
It seems India and England are against the Test championship, and for good reason - the proposal by Australia has the TV revenues being equally shared, which doesn't make any sense for India or England - the two biggest markets. Other than that, I think the proposal is fantastic.