@YJ: I'm caught up now. Yes, I think I could write something which would solve the problem. Reducing the convergence time in the current GR formula is definitely going to improve it, but still has the flaw that it's treating one game as equally important when you've played 3 or 300 games, and that's unreasonable.
Let me try and separate the GR algorithm into three pieces, because I think it does at least one and possibly two of them well. There are three components to the system:
1) There is a decision on how to treat the result of a game. For example, that in a WTA game, a 4-way draw is worth 1/4 of a win while a survive, defeat, and resign are all worth 0 of a win. But, in a game which is not WTA, that a 16-center defeat is better than a 3-center, 5-way draw.
This design decision seems reasonable, and I see no reason to change it.
2) The decision to have GR reflect the average "share" of the pot, meaning that if player A has 2x the GR of player B, they should, in an average game, get twice the "result".
It's not actually clear to me that this it's possible for this to converge. Most systems instead say something like "if A is rated 100

higher than B, then A will get a better result than B 2/3 of the time". So, this might need to be changed. But, for the moment, let's presume that it actually *is* possible to converge. Note that no matter how this system works, it will be the case that playing better opposition means that the result needed to maintain your rating will be lower, which is the property you want.
3) The design decision to let each game be worth the same amount of information, regardless of how much information already exists, and to have a very slow convergence.
This is the one that needs changing.
What I think I'd try first if I designed a rating set, given that TrueSkill appears to be patented, is adapt a version of Glicko (http://www.freechess.org/Help/HelpFiles/glicko.html). If I can get my hands on a set of game results, I'd be happy to take a shot at it and let you know the result.