The first issue that I see with this notation is that you loose information compared to standard notation. For example, a half note contains the information of

The first issue that I see with this notation is that you loose information compared to standard notation. For example, a half note contains the information of how long it will last along with the note itself. This information is given to you when your eye hits the note at which point you can stop looking at it. In this notation, you either have to continue seeing the note for the length or memorize the lengths of different notes which would require you to "zoom out" much farther. IMO, an experienced sight reader would have more difficulty sight reading more complicated music using this notation.