I hate true double elimination in any situation where there is a sizable crowd watching a tourney, and even moreso if the match is being televised. I don't mind it in a small local tournament where the players favor it, because then it's about the players, not about the fans.
Paying fans are entitled to know the match schedule, and roughly, how long matches will take. At Valley Forge this week, there was the match between Chamat and Morris, which took just over an hour. Simultaneously, on the adjacent table, Archer and Putnam needed over three hours to complete their set. Imagine if the Archer vs Putnam match had been the final and they'd had to play another set after that one. I think many fans who paid good money to attend, myself included, would have just left after the first set. A fast set takes an hour, a slow one three hours. A final that could last anywhere from one to six hours is ridiculous in a second tier sport.
What I agree with, however, is that the hot seat winner should get something extra, and extra money is one good approach. Another good approach is giving a couple of games on the wire in the final to the hot seat winner.
True double elimination just doesn't add up when their are paying fans in attendance.