You have to remember that each park has an entertainment budget to do with as they wish. The Magic Kingdom just isn't given a big enough entertainment budget to go to Creative Entertainment and say "make us a new parade". And that's TDO's fault. So instead they do what they can with the money they have...and you end with with cheap looking messes like 'Pixar Pals Countdown to Fun' at DHS.
From my understanding (these are all based on rumors from ent cm's), the Magic Kingdom is set to get an all-new daytime parade in 2013. Where is the money for this coming from? Well, it was included as part of the marketing for the Fantasyland Expansion. So that expansion will be funding this new parade.
In regards to Spectromagic, it has been getting some TLC. The latest rumor is that WDW will bring it back to try and "compete" (and I use that term loosely) with Universal's new upcoming entertainment offerings.
Originally, when looking to make over the 'Celebrate A Dream Come True Parade' again, each and every float was to be re-done in the 'Celebrate Today' theme, just like the first Mickey and Minnie float. Of course, it was cut. So only the first float was re-done. The original idea was to make it more like a Tokyo production, where characters stay on the floats and each float (or unit) has several dancers with unique choreography. Due to guest complaints, the dancers were dwindled down and characters were added to the street. To save money they cut the Villain float (face characters get paid more). So it was a good idea that went bad. But they really were trying to do the best they could with the money they were given.