Kellogg is a decent choice to replace him. At least he's current on the college game.
The thing about Packer is that Dick Enberg and Al McGuire made him. Prior to CBS taking over the NCAA broadcasts, that team was incredibly popular and also entertaining as hell. The reason was that McGuire was so off the wall and he would regularly challenge Packer and vice versa with Enberg doing a super job of acting as the play-by-play guy/referee. Together they remain, by far, the best announcing team I've ever heard for college hoops.
Then Packer went to CBS for the big bucks and what you've seen the last several years is what you've always gotten from him at CBS, except that he was more with the times back in the 80's. I've always felt that the reason he's kept his job was that he was either incredibly tight with the high ups at CBS (who were ignorant of the fact that the guy was at best an average analyst) or else he was real good at the corporate level taking care of the sponsors.
Take away Enberg and McGuire and he was a mediocre run of the mill analyst, but to be fair, Enberg and McGuire were never as good together as they were when Packer was with them.