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To be clear, I would prefer to have a 3 days power down period, and have the payout period reduced to 24 or 48 hours

Haha, bad idear there.

Why would you want payout reduced? Then you'd only have 24 or 48 hours to earn rewards. Way too short. People don't log on every day to upvote things. If anything it should be longer for payout periods. The fact that you can only earn rewards for the 1st week is kind of shitty. It should be forever with payouts being made every X amount of days or X amount of earned Steem.