I'm a good user and have great speed, so I can usually get past the new user wait times in a few days. But I was thinking about it when I saw this new site with 72 hour wait times and not many leechers on the torrents new users can download. It seems that placing a long wait time on new users would cause more leeching than it could possibly prevent. I see how placing wait times on users who have been a member and kept a bad ratio is justified, but with new users, especially on sites that get a lot of first time private tracker, makes it even harder to start off with a decent ratio.
For example, if I download even a popular torrent that is three days old, I will have to wait weeks to seed it back, if there are even enough leechers coming after me. So, if I'm a n00b and grab a 2-3 torrents in the excitement of getting access to a cool new private tracker, I will then be a few GBs in the hole with almost no chance of seeding my way out, even with a fast connection like I have. So those folks with slower connections or a preference for HD or full DVDs face a difficult time of proving themselves.
It seems this policy is mainly in place so people who just signed up can't hit and run the newest torrents. But that doesn't make sense because these are the torrents where there is less of a problem for hit and run, since they at least offer the opportunity to seed back if you stay with the swarm. Sure, there will be those people who h&r a new torrent before it has enough seeders, but those are easy bans to make.
So, any administrators reading this, please consider ending wait times. I can argue even more reasons about this, but for the sake of brevity, I'll stop here for now.