Instant Runoff Voting

just wanted your opinions on this.
where you vote for you candidate but you also pick a 2nd choice (and 3rd or 4th... if necessary. if there are x candidates, you would have x-1 choices.).
the votes are counted and if noone has a majority, the candidate with the fewest votes is eliminated and their votes are redistributed to the other candidates according to their 2nd choice. again if noone has a majority the candidate with the fewest votes is eliminated and their votes are redistributed. and so on until someone has a majority.

here's a flash demo...
http://www.chrisgates.net/irv/index.html

seems more fair to me. this way you could have voted for nader and picked gore as your 2nd choice in 2000 without having to worry about stealing votes from either. this way nader may have gotten his 5% but he would have been eliminated in the runoff and his votes would have gone to gore.