I read a article earlier in the week that made the point that actually while the big teams like ManU and Arsenal had less than full attendance, the real problem was with smaller teams. Getting 50,000 for what is really a reserve match at £45 a ticket (in ManUs case) is great going but teams like Stoke were less than half full.
Cup Not Empty For The Big Boys
I actually like the Carling cup in the way it is used to help blood youngsters. The format could do with some tightening up perhaps but in general I think it does more good than bad.
That said, it has never been a cup with a perceived prestige and weight of history like the FA Cup so I would not shed any tears if it went away.