Honestly, I like the system the way it is. Of course, I don't go on a regular basis and I haven't been since this 50th Celebration, so I haven't had to deal with massive stand-bys hardly at all.
I don't "maximize" my visit by running around for the first three hours of my day and collecting fastpasses. Our general mode of thought is while we're on our way to another ride (say POTC), we'll stop and get FP at Indy. We'll ride POTC. We'll stroll NOS and hit HM. We'll grab a FP for Splash and circle back to Indy. Grab a FP for BTMRR and hang out in Fantasyland. Head back to Splash, and circle back through much the same way (Pirates again, etc).
Of course, I haven't ever had to take into account Space Mountain. So maybe I'll be more like a chicken with my head cut off trying to prioritize what I'd like to do and what's worth standing in line! I've never had to go, "Oh my gosh! We have to make it from HM to SM?? Gah!"
You know, I may never make it to Space Mountain!