Depends on what you mean by "fair", I guess.
As above, fair is so ill defined that it can be invoked used to support almost anything.
Fair in that each vote have equal weight
Fair in that each vote is counted
Fair in that the election is swiftly concluded without suspicion of post election maneuvering.....
One problem with direct voting is that the if no one gets a majority, then there must be an alternative method of selection. Such as a runoff or the preferential voting method Peter B. mentioned. Runoffs are "unfair" to voters that cannot go to the polls twice or loose motivation. IIRC preferential voting can lead to "unfairly" selecting a winner that was not among the top first choice candidates. Defaulting to Congress if there is no majority leads to post election maneuvering.
Right now it defaults to the electoral college, who are selected by the prevailing party of the state. But the system makes an lack of majority in the college a rather unlikely possibility.
Every system will have some unfairness's in it.
used to think that the next time an inversion were to occur the Constitution would be changed with lightning speed.
It is always seems easier to stick the not perfect but familiar rather than move toward some uncertain problems.
Electoral votes are assigned only every 10 years after a census so it's possible that Texas' population has grown so much since the last census that it has the most residents per electoral vote even though its total population is still less than that of California.
You have no idea how the oil boom has caused people to flood into Texas. Since the last census, Exxon and BP have consolidated their formerly wide spread domestic businesses into the Houston area. Then there are the roughnecks, truck drivers, seismic crews, service crews...... Rural roads are clogged with trucks and small trailer towns are built to just to give them all a place to live. With $50 oil and $3 natural gas, they may all be gone by the time the next census starts though.