I like timed brawls myself. Maybe it's because I stink at the game, but it's more fun when things just end rather than one person being out early or semi-early on (whether it's me or someone else). If the skill level of those playing is equal, then stock matches can work out well and can offer an intense burst of fun. However, I know when I play locally with people that aren't as experienced with the game as I am (which is a select few, mind you), timed battles just seem to help keep the peace, so to speak, and offer up a less competitive means of play. Now, all of the "friend" brawls I've played online have been stock matches, as that seems to be what the vast majority of those I've played with prefer. Then again, the folks that I have played with online are a bit more competitive than I am. Make that, a lot more competitive than I am.
1 on 1, stock for sure 3 or 4, time to be fare so nobody gets excluded and forced to watch but, display score for a fun dynamic of on the fly teaming up on the leader or play with stock with 3 or 4 players, and the game becomes much more cautious
I have a love/hate relationship with that, lol. It's awesome sometimes, but really drags the match out at other times. Generally speaking, I'm not playing Hyrule Tempe unless there's four people playing.
Back in when my brother and cousins played the original relentlessly, we always played stock. But that was because we were all at relatively equal levels of skill, and it was a much more serious battle.
These days when I'm playing Brawl with friends though we always seem to go time. If we're not keeping track of whats happening, then it adds an element of mystery to the final score- we don't know who won untill after its over. Plus, everyone is in the game till the end, so ganging up on players is counter-productive.