(1) The current policies are already pretty good. 80-hr work week + 1 day off in 7 and minimum 10 hrs between shifts. 30-hr on shift maximum is good. It should be noted, though, that we don't do "24+6." We care for patients all 30 of those hours, with perhaps a single hour or two being devoted to transition of care or non-patient care educational experiences.
(2) As people get older, they need less sleep, but getting less than 7 hrs a night is not healthy. Maybe you can do it, but it's not healthy. Being overstressed and uni-dimensional as a person is also not healthy. Maybe you can do it, but it's not healthy. Now, correct me if I'm wrong, but medicine is about enhancing health. It is absolutely ******ed and contradictory to be in the field of medicine and openly endorse unhealthy practices, whether it is for your patients or colleagues.
(3) You will never see *everything* in your residency. You have to read to learn about the things you don't get to see. Hour requirements need to strike a balance between sufficient exposure, sufficient time for reading and extra investigation, and maintaining sufficient health to be effective as a doctor and as a learner.
(4) You should be unwilling to throw any moment of your life away. Anything could happen and you could be dead or headed down a very different path at any moment. The current rules are an acknowledgment of the right of individuals pursuing medicine to still be human beings. Sacrifice is one thing, martyrdom is another.