Well, meta posts about "homework" keep on coming, but we still don't seem to have a solution that sticks, so I'll give it another shot. For what it's worth I think the current system isn't so bad that we need to go back to the drawing board, but that there's also room for improvement.
My suggestion is to use this question as follows:
Post answers containing a short, self-contained statement on the topic of the homework policy. Keep these as close to one line as possible. I'll put up a couple of my own to show the format I have in mind and get the ball rolling.
Vote according to whether you agree or disagree with the statement. This is of course the normal voting process for meta.
My hope is that this can break up the question of homework policy into bite-sized chunks. Some items we will have good agreement on - these can be either implemented in the case of positive agreement, or discarded in the case of negative agreement. Other items will be debated - these can go to other meta-questions for further discussion.