I think it absolutely has to be a new first-time manager. The names being bandied either aren't suitable or have their best days past before them or were never much cop in the first place. We envy clubs who had the foresight to give Adkins, Poyet, Rosler, Robinson, Rodgers, Martinez, Moyes and - hell - even Di Canio their first breaks but the only way we'll ever get a manager of that calibre is to identify them before someone else does.
Yes - inexperience is a risk but there are no experienced candidates who'd not be a risk. It absolutely has to be a new appointment. If it were down to me, I'd invite David James to an interview and see what he had to say for himself. Throw in four or five more intelligent, articulate young coaches and former players who've got their badges and we might just unearth a diamond...