You should realize that by using BTC as a collateral for a long position you effectively had more leverage than intended [...]
You can't be serious! What you're implicitly saying is that the BFX team wasn't smart enough to notice this earlier!? I think they are doing a very good job and they're fully capable of understanding the consequences of previously allowing this. I assume they know why they're taking this decision now (and that they were fully aware of the previous leverage), which still doesn't mean I like it for my trading profile.
If you want to get into insane leverage you should check btc.sx. They offer 10 X leverage and from what I have read so far are guarranted to rip you off through large gaps, unfair stops and high slippage.
I don't want insane leverage, especially not on a platform with that large a spread. But with a proper risk management you can safely handle the bfx leverage as it currently is, and even the 4:1 they used to have (even in parts of the November bubble bull run, believe it or not!), if you tread cautiously. It isn't my fault that some traders don't practice a proper risk management and don't stop bad trades early. I understand that BFX wants/has to play safe, but I personally would prefer more leverage.
I understand your position and also the general wish of traders for more leverage at least as an option. I think it is certainly a possibility but not with bitfinex model of insured swaps and socializing of potential losses. They could certainly establish a certain where lenders have more control over the counterparty of their swap with choosing a certain amount of max leverage/whether it's for ltc or btc etc.
The problem is as you see from having different periods that this would transform the already clunky 2-dimensional swap market to a 3 or 4 dimensional market with very spread out liquidity and potential technical problems.
As somebody who is mainly providing swaps and has expressed concern multiple times in the past over the large amount of swaps I am quite satisfied with BFXs announced changes. If you want more leverage you should of course consider some other possiblity. I personally would never put any money on okcoin and huobi simply for their history/language barrier and unclear chinese regulation. I already consider BFX a very high risk investment.