ATM, the mechanic to gain sec. status after you do some naughty things in lowsec is rather odd. You have couple of options to repair it, either in missions (provided you have not dropped too low), ninja (or proper) ratting in 0.0, or ratting in lowsec, which is really not very effective way.This thread sums up the current mechanic nicely
Only difference i noticed is that the timer seems to be 10 minutes now.
The 0.0 and lowsec ways are not as much badly affected by the current mechanic. Quite the contrary, in 0.0 you can gain sec status rather fast, because every system got his separate "sec. status gain" timer, so running thru 5-6 systems and killing the most juiciest rats you can get nice boost. If you are lazy to go round and round the systems, or they are populated just wait in safe or cloaked and kill another ship after you gain sec status.
Missions are another story.
First issue is that not all mission rats give the sec status increase. I don't expect killing some Gallente ships will, but for example EoM ships should give increase. Pirate factions like Angels, Sansha, Blood Raiders generally give the sec status increase, but not in all missions. For example killing Angels give sec status in Angels Extravaganza, but it does not in Worlds Collide featuring Angels and Sansha (Sansha does not give increase as well).
Second issue is that if you do the missions normally the security status increase is pretty random, as you usually kill targets that threaten you first (tackling frigs) and then proceed to the kill bigger stuff like battleships, which give nice sec status increase. Iam not exactly sure how the timer works here, sometimes it resets when you kill the battleship (meaning that you effectively lose the time between killing the first ship and the battleship). Sometimes you just get the small increase from frig. Sometimes you don't get anything. If you run the mission for the sole purpose of increasing your security status you can imagine, this is pretty frustrating.
The best way is to get mission after mission and when you get one that you are sure is giving the sec. status and there are decent rats you can proceed. Get in, kill one battleship, get out (or tank them for next 10 minutes). Repeat till there are no battleships left. Good thing is that the mission respawns after downtime so you can do it again (i guess few have patience to try to get another good mission and repeat this process more than once a day).
Now what i propose:
Remove the timer and decrease the boost from individual rats (but make every killed rat count), so the rate of security status gain will be about the same as with previous mechanic. Sec status "payout" can be grouped like the bounty payout. Also fix the missions and rats that do not give sec status increase. In fact every NPC ship that have bounty should also give sec. status increase.
What will it achieve:
If people opt to increase their sec. status in missions they will be able to actually do the missions, instead of just waiting for some timer. As a by product they can earn more ISK in bounties and mission payouts and maybe even having FUN, instead being stuck in one mission for days. I am aware that it might hurt the rate of sec. status gain when people chain couple of 0.0 systems and run around. Although Iam not sure if that was an intended feature of the current system.
Iam playing this game for quite a while and i got involved in lot of different things it offers. This is why i like it and i do not want to restrict myself out of empire space because of my current rather casual pirating activities. There is crime and i accept the punishment, but in case that The Timer was not directly intended as the punishment, but rather mechanic that was at hand when they introduced the sec. status please do something about it. AFAIK this mechanic is here possibly from the first days of EVE