You know me I am divided on this. I like to pros that Eric points out but I feel that as a whole it Nerfs the whole Initiative stat and for characters that focus on that it sucks. now dont get me wrong with his wopping +1 dont benefit from that but still we dont use the other things like speed factor that were used in 2nd either for the light and fast fuckers. Wroth would be fucked against a dagger wielding rogue with speed factor ;P
I do feel it speeds up the game and to that I am all for it.