I like divisional playoffs but not your "top 2 from each division + two wildcards". As evidenced from your BUF-NYR matchup, with relatively equal-strength divisions you'd end up with 7 vs 8 most of the time. And sometime you'd end up with 1 vs 2 as well. I don't have a good sense of how this can be solved without 7- and 8-team divisions, but if I understand your proposed scheme correctly finishing 3rd and even 4th is always better than finishing 2nd if you're making the playoffs.
Aside from not guaranteeing a Division winner at Top-3 spot but instead a Top-4 spot (Home-ice advantage), which is the only change I'd like to see, I think you could have an approximated Divisional Playoff.
You just match up first the highest and lowest seeds from each Division (where at least 2 teams from a Division have made the Playoffs), and the remaining teams face each other.
I mean, if you're going to do a true Divisional Playoff (even with 7 or 8-team Divisions), you're still going to be very much changing up the Playoff matchups as they exist now, so why not take it as it is now and make Divisional 1st Round matchups where it's possible to do so.
For example, this year would've had:
In the West
San Jose vs Los Angeles
Detroit vs Chicago
Anaheim vs Phoenix
with
Vancouver vs Nashville
(Now, as the Conference Top Seed, Vancouver could be offered the option of facing Chicago, which could then mean):
San Jose vs Los Angeles
Detroit vs Nashville
Anaheim vs Phoenix
with
Vancouver vs Chicago
In the East
Washington vs Tampa Bay
Philadelphia vs Rangers
Boston vs Buffalo
with
Pittsburgh vs Montreal
(And again, as the Conference Top Seed, Washington could be offered the option of facing Rangers, which could then mean:
In the East
Washington vs Rangers
Philadelphia vs Pittsburgh
Boston vs Buffalo
with
Tampa Bay vs Montreal
It's an approximation, but it could work.