Back in the early 2000's all they did was play "Thunderstruck" and run the team out at the crescendo. Same thing VT does with "Enter Sandman," and it was awesome.
The thing about traditions is two-fold - it has to be unique and it has to be consistent. We completely re-do the entrance every year (sometimes even changing it during a season) and they seem to get worse each time. Disjointed, overlong, and painfully anti-climactic. Its like they get 10 people in a room, and then include every single person's idea. The point of it is to get the crowd emotionally excited, and it does anything but that.
And don't get me started on slapping Michigan's banner...