Head protection
I would agree that this should be mandatory - in most activities head and eye protection are the top two priorities, because a serious injury to either is likely to do irreparable harm. The sport has already taken care of eyes, so why not do the head too?
Pretty well every punter site seems to dish out padded 'snoods' to prevent people from getting too badly bruised, which is as it should be, in my opinion. I believe most also enforce a 'head shots dont count' rule, but I don't think this would work in a tourney. If it was only for muggings, you would get into all sorts of heated debates as to what constituted a mugging ("He mugged me in the head! I'm still in" "No I didn't! I was moving forward and snapshot you before I got there! Walk, you *******!" <fisticuffs>)
If it was across the board, you would never get an elimination.
As for FPS, the current limit has worked well enough for the last many years - why change it without compelling reasons? IMHO, there are other safety issues that are more important than the actual speed of the ball, and which should be addressed first, such as overshooting, netting, barrell-blocking etc.