As much as I'd like to see this happen, I think the problem would be people would just run the quickest and easiest raid to level up quickly which kind of defeats the point.
Fastest KF I've managed is around 45 mins. You can do almost 3 CE in that time.
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Ummmm...that's because the earlier raids are easier when you are leveled up (regardless of what others have said...read played with a bad team) so they go faster. If the early raids were raised to current (or future RoI) levels they would become more difficult and take longer.
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Easy fix, have materials drop from Heroic RoI raid to upgrade any other gear you may like.