The format for F1 Qualifying is good but there needs to be more spectacle for qualifying.
Qualifying 1 (Top 2 advance to Q2, places 11-20 set in Q1)
Qualifying 2 (Places 1-10 set in Q2)
I think it will work because less track time for top teams, give the two drivers that advance from Q1 to Q2 having an extra set of tyres needed if they need it. It would mean tyres used in qualifying would be reduced from 7 to 3 and tyres used in the weekend would be reduced from 13 sets to 9 sets thus saving $8000 per driver, $16,000 per team and $160,000 less money made for Pirelli. It also means less engine miles would be used. It would use the top 8 times from all three practice sessions combined to get into Q2 with the slowest 12 into Q1, the format is similar to MotoGP with the fastest 12 into Q2 and slower riders into Q1.
If the schedule was implemented, here's how it would be scheduled:
3.10pm-3.25pm CST / 2.10pm-2.25pm BST: Qualifying 1
3.35pm-3.50pm CST / 2.35pm-2.50pm BST: Qualifying 2
I hope F1 would use it to save costs for everyone concerned.