Perhaps we could search for players only in certain time zones when we are selecting games to play in. That way, for example, someone in Europe can search only for games with European players so that everyone's awake at the same time and there's not frustrating waits for America to "wake up"...and vice versa of course!
The problem with this is that even if you're in the same time zone, people still play at different times of the day. You'll still end up waiting just as much.
If you're saying that 4 European players will usually take as long as say, an American, a European, an Asian and an Australian - then I disagree. Of course people play at different times of the day but generally 4 people from the same time zone will be awake and asleep at roughly the same times...there will be less annoying long pauses during waking hours!