The continued emphasis on "depth vs. breadth" is being pushed at Bryn Mawr, where they have adopted a more flexible testing policy. Under the new policy, students can take the SAT Reasoning plus two SAT Subject Tests or the ACT, or 3 AP tests in specific areas.
By encouraging subject mastery, Bryn Mawr is making a statement that "...it isn't just about getting the answer 'right.' It is about delving deeper into the subject matter." Now we just need to make sure that these tests are of high enough quality to really allow students to demonstrate that mastery.
This is a good step towards responsible use of testing in college admissions. My opinion is that there is a large disconnect between students, parents, and admissions staff about the emphasis placed on these tests. Many college admissions teams are working on improving the situation, but it is certainly an area that can use more work.
(Thanks to angetank for sending this my way!)