I dont like it. As federer said it would be boring and not fair to the lower ranked players.
However i dont think thats why Federer doesnt want it. He wants to be No1 again so he can beat Pete's record, but he knows he has no chance with 2 year ranking system. 2012 is probably he last shot to be #1 but with the year Novak had, he would have no chance until say 2013 season under the 2 year system.