Considering the current format has led to better revenue according to developers, I can't see Steam going back to the old format. Personally I prefere this new way, it was always annoying missing a game because it happened to go on sale during the night. I also now know that a game will remain at the same price throughout the sale, so if it is something I really want I can buy it straight away without worrying about it reducing in price due to a flash sale. Or if it is something I'm on the fence about I have time to think about whether I want it or not.
Check out my new gaming blog Player State
. Updated every Wednesday.