You know that format was ridiculous when the Soviets could go 8-0-2 and finish behind the 5-3-2 Swedes. So glad the IIHF ditched that silliness in 1992. What on earth were they thinking?
How is that different from the playoffs format? Look at the Habs eliminating the Leafs the other day, and look at their regular season records. Early/preliminary group results don't matter – it's the championship games that matter, so in that sense, the previous IIHF format was fine.