For how expensive Wallyworld is, I just never found it any sort of inconvenience at all to wake up early one day and make FP selections. I also don't find any issue hunting a few minutes for FP's for popular attractions the rest of the day after the first three are used. Matter of fact, I thought it was fun. The kids got the hang of it as well. I might be in the minority, but I thought the whole FP system made Wallyworld more relaxing. No waiting in lines, just grab a FP, and go. Also, I'm more of an "early bird gets the worm" type. If the parks are open in the am, I choose to go early to get my money's worth, since it's expensive. Plenty of other people do as well.
I also don't think Walt cared too much about everyone having an equal shot. At ALL.
I kinda hope the FP system comes back exactly as it was. It was pretty darn simple, imo.