"Ecclestone favours a return to the one-hour long free-for-all qualifying."
http://www.f1central.net/news/1078733782.html
Personally, I think this is one of the most exciting things happen to F1 in a while. I love it, either you make it or you don't. None of this best out of xx mins thing.
But apparently, TV-Friendlyness is more important these days, i.e. TV revenue.
Remember that the Open Qualifying was what lead to Ferrari dominance (or part of the equation). And last year's results are one the most exciting season to date.
Always trying to find ways to penalize Ferrari for making such a good car and have such good drivers.