hmm, well if we are replacing an ability that moves another player to my side, is instant cast and has a 120 second recast I want something at least as good... I know, how about an ability that teleports a another player to my side, is instant cast and has a 60 second recast. Yeah that would be perfect. I won't accept anything else.

Seriously. there is nothing wrong with rescue. I have run around 2500 dungeons in the year and a half that i have been playing. Most of those I ether healed or tanked. I have never been trolled with rescue. I have been saved by it and I have saved others with it. Its fine as is.