Oyster PAYG is now the way to go for occasional travel wholly within London and, while I can't comment on the public consultation bit, here is my list of advantages and disadvantages of the new system:
Positive:
Integration of rail and tube fares.
Single fare now costs half the price of the equivalent return fare.
As an extension to the above, I now have greater flexibility on how I travel (out on bus, back on train; return via a different station etc)
Negative:
Peak fare during the late afternoon/early evening
No break of journey allowed
That £1.10 premium to use the underground in zone 1 (although I can understand it, given the density of lines in that area).
Overall I am pleased with the new system (although I admit I have had a break in journey only once, and that was simply to test it out, knowing it was effectively being phased out with Oyster PAYG).
