I personally see no problem in having a longer format, adds to the excitement in the latter stages. You really do not want a minnow to be in the end stages of the WC unless they have played really well.
The problem with the 2007 format was that a single victory almost about ensured you a place in the next round. Go back to 1996, 1999 and 2003, you will observe that the teams that reached the next round had played some quality cricket and their wins were simply not flukes.The format ensured that by simply playing well in one match did not ensure you a place to the next level.. You had to play well throughout.
Now if Bangladesh likes the 2007 format, it cause they just had to scrape a 'fluke/upset' against a major nation. Thats it. You may say I am being arrogant, but thats the truth. Your team wants things served on a silver platter,am afraid thats not the way things are going to be in cricket, as you must have seen the state of you Test matches.
If they do well in this format, they can obviously lay claim to being a better and an improved team. If they reach the QFs, they will have improved from 2007. And even I shall admit to that. However that probability is way too low. When I meant, be realistic, it applied to the other members too, who have been raving about the fact that the WIN will get knocked out by Bangla.