I think this concept is narrow minded thinking. Look at the bigger picture.
Can you explain the difference between the losers of the first round waiting until the third round and the losers of the second round waiting until the fourth round. I don't see any. I think the focus of most coaches is to concentrate on the front door and then concentrate on the backside.
I also think your idea doesn't consider parents very much. While many are able to take a day off of work and be their early on Friday, many can.t get away until friday afternoon. It is kind of nice for them to know their son will still be wrestling when they get there. I think the first round of wrestle backs fits nicely with the semi-finals. It is great to feature the semis on only two mats especially for the fans and coaches of those competing. Consider that often the best teams have many of their studs grouped in close weight classes ie.. Hoxie in 2002 112-135 and ACCHS in 2001 160-215. It is nice for the kids to have the head coach at matside in the semis, three mats would reduce this.
Just as important, it seems to me and I could be mistaken but somehow the focus on those backside rounds, should allow the kids to think about competing in their next match, not how soon they get to eat or how soon they get beat out so they can make the 7:30 basketball game. Even more once the team race is narrowed down to 5 or 6 teams those backside matches, even 1, 2, or 3 points at a time can have much more importance,
It was previously stated then they could weigh in in the afternoon, clearly they could not weigh until the weight class is done for the day.
It was also stated that half of them would be eliminated this way quickly, actually only half of the first round losers would be eliminated.
I know my opinion may be a little strong, but I think the concept hints at allowing people to quit competing earlier, which is obviously the wrong mind-set. I would hope they would still be focusing on wrestling during the saturday sessions. I also believe quick eliminations would reduce the overall crowd with some fans leaving early and others never coming. Let;s do what we can to create a great atmosphere with a crowd worthy of the state champioships.