I agree about the 8-hour version, and I actually used it for a long time before I switched to No Fatigue. What forced me to finally make the change was the Type II, which I love. Even though it's "8 hours", when there's rough weather (and there seems to be a lot of that in SH3) I found myself rotating the crew every two hours just to keep them useful. In a Type II there simply aren't enough crew to do that, and the extreme lack of efficiency became frustrating. I do like rotating my crew, but not under those conditions.
I've been told that after a few patrols the crew become so hardy that they no longer require rotation at all, but I've never played a crew for that long.