I guess I see the error in my logic now... In a perfect world, if reward was based just on Mhash/s and nobody was pool-hopping, I would earn the same reward no matter how long the round took.
I don't think that pool-hopping is an issue. When I watch the stats for the pool, they hardly change. And that sure seems like a lot of work for a few fractions of BTC's.
I got a script set up that does it for me :3