The only change I'd like to see is something similar to how in Football, if there is currently action the game will play on until the ref deems the match as over.
Pros:
Exciting combat is kept up,
Nerf to playing the clock,
Keeps to time limit, since most brawls will be over quick
Cons:
Subjective decision making by the referee,
So the 4 rules I would like to put forward for consideration:
"If the match timer runs out, however the Referee still deems the match as "in combat" (same rules as pausing), there is an additional 90 seconds of overtime before the match must end. This time can end prematurely if combat ends."
"If the match timer runs out, however the Referee still deems the match as "in close combat" (short range engagement in progress), the match plays on until combat ends."
"If the match timer runs out, however the Referee still deems the match as "in close combat" (short range engagement in progress), the match plays on with 1 minute of overtime, this can end prematurely if combat is deemed as finished."
"If the match timer runs out, and scores are drawn, however the Referee still deems the match as "in close combat" (short range engagement in progress), the match plays on until combat is deemed over, if the match is still at a tie by the end of combat, proceed with standard rules."
I hope one of these, or a combination will fix one of my only critiques with the timing system - that intense and interesting combat can be cut short by a timer.