I don't play a BLM but having followed this thread I think there is an over emphasis on the effectiveness of the SMN raise and its use as a rationale for the BLM to have one. It isn't so much an MP management issue as a waste of Swiftcast or the loss of DPS during the normal 7.5 second cast time. It is useful in four person content for when the healer dies or the tank dies and the healer picks up aggro. The problem arises when you have more than one healer or other class with raise ability. Healers/raisers using chat announcements as part of their raise macros help but the problem is wasting a Swiftcast in an attempt to raise a party member due to another player just beating you to the raise. This has two effects. First, it means there is a good chance that Swiftcast might not be available for Wymwave attacks thereby affecting part of our largest DPS burst rotation. Second, if you have to cast a raise during the Swiftcast CD you are stuck with a 7.5 second cast time. Again that is a lot of DPS lost and if it is a healer you are saving that raise frequently results in your death as well. Some of the suggestions for a BLM heal are even more crippled than this making it even more likely to be a wasted action. So while I don't want to lose the ability to raise it is being given credit for being more useful than I have found it to be.
I don't think SMN being preferred for progression is so much the raise ability as it is our mobility. Couple that with, at the moment, pretty good DPS and usable if weak buffs and we bring flexibility the BLM doesn't have. Being able to move while dealing DPS is important as folks learn mechanics and shouldn't be underestimated. It can mean the difference between being successful or wiping. Once mechanics are learned and people know where to stand ahead of time mobility isn't as important. I think if you really want to increase BLM viability then it should be in the area of mobility and some type of group buff or ability. Add in a DPS increase as well and I think you will do better at increasing the job's viability while keeping job uniqueness.