The decision about new time limits was not made in Istanbul. According to the FIDE statutes, only the General Assembly can change title regulations, and only on recommendation by the QC.
As to the new times, my opinion is that it should be only the recommended minimum, not mandatory for all tournaments.
The new times are within the limits of rating regulations, but they are not valid for title purposes according to the present version of the title regulations.
Having said all above, I do not mean that I am against shortening the minimum times. I fully agree that to get the chess more attractive for the media, we have to go to shorter times, although it means obviously some more blunders and worse quality in the games. Personally, I do not want to watch a game that lasts 7 hours and 55 minutes, as the longest game in Istanbul was. Compared with other sports, like basketball, hockey, etc. chess is different in that sense that chess gets more interesting after thorough analysis of the game, in other sports the live action is the most interesting part.
Regards Mikko Markkula (Finland)