I understand that raid lockout timers are put in place for a reason. I suppose that part of that reason has something to do with not wanting the playerbase to fast track content. I'm not sure of the other reasons.
From my perspective, people that want to fast track (farm) content will and have found ways to do so. For Pande, for instance, it is not uncommon for players to hold clear playfields and then just do beast over and over again on multiple 220's if they're looking for a particular item. So if the intention of a lock out timer is to prevent back to back farming of content.. that isn't effective.
The negative of lock out timers, in my experience, has been that once I've done a raid on a toon I can't use that toon in the near future to help anyone else. The reverse of that being that if I know I am going to do a raid at 8PM EST and someone needs me to tank at 6PM, I won't be able to because my toon would be locked out for the event I have planned for later.
The intent of this suggestion is not a selfish one as ultimately if I know I want to farm something I'll reserve my lock outs for myself. It is mainly to promote teaming which is something I remember Lindelu stating that the dev team was looking at for future updates.