There´s no reason to abandon the present recorders for a wireless system since onboard recorders already are mandatory and the cost of having them already is calculated into the business model. Just have to make them easier to find, just like is being said here.
The Boeing 787 will have enhanced recorders (CVR plus FDR in a combined unit, times two) which will record many times the data of previous recorder models and one of them will have a ten minute independent power supply. The "only" problem is, they are designed differently and collect data directly from sensors in a fiber optics ethernet data stream, which makes it impossible to retrofit these enhanced recorders to older aircraft types. Read about it here:
http://dev.flightsafety.org/asw/jan0...n08_p47-48.pdf