[jghn]

One thing you're missing though is that a time limit allows for a controlled variable when you're comparing candidates.

The test I was referring to I'm almost certain was not intended to be completed in the time allowed. I've used it myself for in person interviews (not take home) and give candidates 3x the time I was given, few of them actually finish it completely. While it just made me feel like an abject failure at the time now I realize a big part of what was being tested was given limited time what bits I focused on. In fact that's exactly what I tell candidates who I give it to.