I have a few scenarios... and have ranked them in order

1) No change to elites - daily/weekly marks are worth a LOT more. If you disregard all the kill/claim/elitist trolls - hunts are some of the best social content in the game. I have met more good people outside of my normal social circles doing hunts than i have in any other content in the game.
2) More frequent pops BUT timer lockouts on individual level based on current windows. Example - the b rank in "x" zone pops every 10 minutes... but YOU as an individual will only get credit every 40 minutes for the b rank in the zone. Same deal for A's and S's at appropriate scale. This has the effect of reducing the demand on any individual mob while increasing the value of setting up long term parties - so that your all on the same timer. Biggest issue preventing this - the server load might increase to much.