Chess variant idea: Person with least amount of time on clock after X moves loses.

The recent 3D Fritz vs Kasparov match gave me an idea for a possible
chess variant that may breath life into chess, and also reduce the
drawing possibilities in the game.  I would like some feedback on
this.

In the game, give 3 hours for players to complete 60 moves (or could
standard 40 moves time lime).  A game can end normally on resignation
or stalemate (player who causes the stalemate would win), or checkmate
or a player runs out of time.  In event it doesn't at the end of this
time, then the player who has more time left on their clock after both
players make X moves (aka, 60) wins the game.

I would suggest also here that time bonuses be given for material
differential.  Time bonus awarded:
- Pawn: 1/40th the amount of time of a game. (Ie, if the player is
given 3 hours to make a move, a pawn would give them a time bonus of
4.5 minutes).
- Bishop or knight: 3/40ths the amount of time of a game.
- Rook: 5/40ths the amount of time of the game.
- Queen: 9/40ths the amount of time of the game.

This time bonus is added after the number of moves in the game are
finished.  Players would add up the time bonuses for their remaining
pieces left on the board, to the time they have on their clock, and
the player with the most time wins.  If the time matches exactly after
this, then players would set their clocks with their time bonuses, and
continue the match for 20 more moves.  Again, the time is adjusted
accordingly.  Play would continue in this fashion until there is a
winner.  [this last section for breaking ties needs to be adjusted].

Having a game run this way would make time management MUCH more
important to the game.  It also would pretty much eliminate the
prospects of a draw.  Players would have to seriously think about
whether or not to spend more time to think out certain lines of play. 
I think also this would tip the balance back in the favor of humans. 
A human could play a quick game against a computer and win on time.

I would like some comments on this.  I know this should be tweaked
some.
- Richard Hutnik