I don't think it is really necessary to reduce the hbd->hive conversion time to improve the peg tracking against USD.

Despite the opinions of some other observers, I personally think the peg works very well as-is, now that we have hive->hbd conversions to peg the upside. With the one potential exception of the haircut case (a risk that will be lowered with the next HF, of course), I believe HBD to be as stable against USD as fiat currencies that trade against the dollar. And in many ways, even the haircut risk can be likened to the risk of holding any fiat currency when the economy of the country backing that currency is experiencing problems.

So I believe HBD has sufficient pricing stability now to act as a currency for buying/selling goods and that's all we should want. I don't believe there is any strong benefit to a slavish tracking of USD value, just a need for reasonable price stability against real goods.