I don't think a new coach with the existing talent will do much of anything. I don't think that the old coach with new talent would do much either. I want a true rebuild, a la Buffalo, where they traded away everybody with value and changed coaches as well.
I'd probably prefer a two-pronged approach:
1. Replace most of the coaching staff
2. Trade away players that excelled in Tipp's system
I think we are at a point where a "clean slate" rebuild (even in the next offseason) would be a bad idea for keeping the Coyotes in Arizona. The last thing most of the local fans would be willing to invest in season tickets for would be a totally new team.