I agree tht the 11 rounds system is the best as well.This system was implimented at first due to unscrupulous practises amongst players. Nevertheless, this has lead to other problems such as allowing weaker players to enter the round of top 4 during the 7th round. Personally I would prefer the 11th round system considering that this sytem benefits the stronger players and would induce stronger players to take more risk. Moreover, there would be less "black horses" involved. For players that take more risk, it is obvious that the 11 round system would suits them better. Anyway, regardless of whatever system used. It will never be a perfect system that would suit all players.
Just to add another point.
A major advantage of this system is that it allows more players to represent the country. Since the top 4 positions are different yearly, This would give more players opportunity and hope to attain a better result. Rather than the same few players representing Singapore each year. This is vital to promote the game.