Honestly, most options are basically "the monster gets to make a roll, instead of just auto-succeeding".
But one thing about the original rule that I think must be kept is how a MM monster can use up all its three autosaves in the same round. Even before it has acted. Before it even knows it's under attack!
The thing I'm most interested in seeing mechanical discussion on, however, is forms of legendary magic resistance that allows the player the satisfaction of getting "in" his spell; that doesn't simply deny the player some effect.
So far the discussion has mostly revolved around different ways to basically give the monster more saves, or even have it automatically make its saves.
But what about failing saves and getting affected by the spell's effect - but not in such a way as to be completely out of the fight?
I'm thinking that if we could define what it means to be "two-thirds in the fight" and "one-third in the fight" we could simply have legendary monsters have "legendary resilience" and not have to mess with the saves at all. Let the player's spell hit the BBEG as usual and let the player get the satisfaction of a spell well used. Only the BBEG is too legendary to stay down...
Then we'd simply track each way you could be "down" (as in petrified, paralyzed, banished or dead) and count "three strikes and you're out".
One strike: you're mostly cosmetically affected. The DM is free to avoid splashy huge effects; like showy lair actions, actions that recharge (dragon breath). If the condition is "immobile" you only move as little as possible to not whiff your action. Use alternative modes of transport if possible. But you're basically free to do anything you need to do to still be effective. Ignore any effect. Break any rule. You're
legendary.
Two strikes: you either have disadvantage at everything you do (active abilities) but not defenses. Or the DM only uses your main attack and gives everything else a rest. You're mainly defeated, only the heroes can't just ignore you. If they do, you'll come back (even if only to escape to fight another day).
Three strikes: the heroes actually did it - you are truly defeated (killed/banished/mazed whatevs). The heroes can now mop up any allies and kill your ass when the paralyze/petrification/sleep wears off. Basically, it's over.
With this system, all that's left to hash out is to define how often the monster gets shots at comebacks. The easiest suggestion that parallells the rule as written is:
At the start of each of your turns: erase one strike from each condition "track" automatically.
A Dragon that's been hit with two Hold Monster and one Maze starts its turn as if it's hit by one Hold Monster (strike one) and no Maze.
That's simple, but also fairly crude. There'd be no point in casting different
kinds of spells. Let's see if we can't come up with something more satisfying