The proposal states "The existing policy provides for a minimum period of one week, which is just about long enough to allow TechCom to veto requests."
I'd like to suggest to extend the minimum period to two weeks, to provide for times around holidays or conferences when most people are out.
I would personally keep at one week. Two weeks as a general rule seem too long to me. We can extend the policy to say "except in predefined periods of holidays and conferences that can be found on page X". We can then link to the deployments page on wikitech which states the deployment freezes which coincide with holidays, AllHands et al.
I think one week is fine. In my experience, conferences and holiday periods are when *more* people are engaged. For all of people who's first/main priority isn't the wikis (the majority of our community members), myself included, holidays are the main time I get to spend on wiki related stuff. Conferences are the same, because wikis take up 100% of the time :-)
One of the highest periods of engagement I saw was at the beginning of Wikimania, when I posted five +2 nominations (intentionally timed that way).
I suppose one week is ok as a minimum. The person who evaluates the discussion should however consider waiting for more than a week if there was little feedback.