I think that's a wrong question, because faster lap is not an issue. In absence of track testing, risk exists that cars might not be ready to go out in Q1, and if they do, they are handicapped by whatever malfunction. In one hour format people had time to work on the car, and still remain competitive on Sunday. Who cares about some silly, arbitrary rules prior the race? I think we came to see all drivers in their best positions to take it on the track, instead starting in pits, or on wrong rubber, or somewhere down on the grid where junior takes a swipe at you just because he can get his name in headlines. Then there is the weather, and how many times already people who found the dry track moved on, as opposed to others who got stuck in wet trail, and for all practical purposes are thus also handicapped for the race. To me it doesn't make any sense. I want to see the race, and all guys in points in their best on Sunday line up, ready to kick dust at 14:00.
One hour quali format might have been often wait-and-see time, but teams watched, waited, and then furor - will Schumacher get P1 in last dying seconds? I have not experienced such tension for many, many years, and I miss that. What we have instead is this guy Alonso telling us, that quali is not important anymore. Well, thank you very much then.
You have an hour of FP3 on Saturday to work on the car, then another hour or so until Q1 where there are no restrictions for working with the car. There is practically the same amount of time available as there was before - if the car is not ready the team have no one to blame but themselves. Testing is not an issue here as the format was in place before the ban; besides cars are more reliable than ever now. None of your gripes are really with the format, you should be talking about parc ferme or the tyre rules.
There is also no difference between the tension at the end of the one hour session and that at the end of Q3. Both give the opportunity to have close battle for the pole, as we have seen in Q3 many times before, but knockout qualifying removes the long periods of nothing happening and gives us a much better fight down the grid. The fact that some cars choose not to run currently is again down to tyre rules and not the format. Alonso is absolutely right to be telling us qualifying is not as important. It should never of been so important compared to the race as it was during the 2000s. It's meant to set the grid. Any excitement it brings is merely a bonus.