In my opinion, how registration functions now is perfectly fine as is.
These open registration times can vary greatly, as it can open at any point for anyone looking to Register an account. Thoughout the week for one person, it could open in the early morning, late morning, mid day, early afternoon, etc... There is always going to be a time of day throughout the week when a person will be able to catch the registration open. However, there's also a lot of people who try to rely on others, such as; friends, general users or even staff to keep an eye on registration or notify them when registration is open. It is not their responsibility to watch registration's activity for others, as they are the ones wanting the account.
The system was placed to prevent new and old users from creating so many accounts for themselves and taking up space on Raz's server(s). I know of several users who have 10+ accounts, and more than half of them are no longer touched, or barely so. The majority of people created new accounts purely because they did not like their username and wanted something new. Nevertheless, t is now possible for users to change their username through the user panel, so they can recycle their accounts instead of making new ones. Personally, I feel no one should have more than 4 accounts, but that's just how I feel. Even though this option of account 'recycling' is now available, the issue of account hoarding will always be around.
Users can now also delete their old accounts through the user panel as well, and it will delete the account instantly. Before, you had to do this through your profile on the forum, and leave your account untouched for around 2 weeks. Deleting old accounts is easy, sure, easily provides more space. However, even though this option has a much quicker response and is easier to do, there is still an issue. A lot of people forget their passwords, e-mails and even usernames to even do this. A little while ago, Raz cleared/deleted/removed all accounts that were inactive and untouched for over a year or so. Even though there is more space and everything is much cleaner, there are still a huge handful of accounts that haven't really reached that time/length period, so there are still a lot of people who have hoarded accounts.
Sure, these new changes are dandy, and it's very understood that a lot of users want registration to return to it's 24/7 routine, but people who are wanting to join will need to wait patiently for registration to open. I am not saying that registration will never return to it's old system in future either, but currently it is a comfortable and very stable solution to prevent the said things from happening, or happening less.