While I did not support the proposal, it would have opened up some extra possibilities for the Australian chess scene. My local club (Australian National University) plays four tournaments with a time control of 60m+10s, while a number of weekend events in Australia use the same time control.
The main complaint is that the quality of chess drops at the faster rates, and it is an opinion I agree with. But that does not mean you do not get some exciting, and well played games at this time control. As an example here is a game played at the 60m+10s time control. Both players whipped out the first 10 moves pretty quickly, but after White forgot the main line (11.Bxf6) both players were on their own. 16.g6 was pretty strong, but is was 26.Qg4 that was the start move (White needed to see this before playing 25.Rxf6!). After that the Black king was too exposed, and White just needed to find the right order of moves to win the game. (NB The game score was reconstructed from memory so the moves might not be an exact match! ** And I've edited the moves at least once!)
Chibnall,Alana - de Noskowski,Adrian [B99]
Spring Swiss ANU, Canberra, 30.10.2013
1. e4 c5 2. Nf3 d6 3. d4 cxd4 4. Nxd4 Nf6 5. Nc3 a6 6. Bg5 e6 7. f4 Nbd7 8. Qf3 Qc7 9. O-O-O b5 10. g4 Be7 11. Bg2 Bb7 12. Qe2 h6 13. Bxf6 Nxf6 14. g5 hxg5 15. fxg5 Nd7 16. g6 Nf6 17. gxf7+ Kxf7 18. Nf3 Rh5 19. h4 b4 20. Ng5+ Rxg5 21. hxg5 bxc3 22. gxf6 cxb2+ 23. Kb1 Bxf6 24. Rdf1 Ke7 25. Rxf6 Kxf6 26. Qg4 Rg8 27. Rf1+ Ke7 28. Qg6 Kd8 29. Rf7 Qb6 30. Qxe6 Bc6 31. Qxd6+ Kc8 32. Bh3+ 1-0