That makes some sense, though from what I know of other web functions using the time search this way seems odd.
Using it the way you thought it would work would make no sense at all, but you are used to "last post" being the center of your forum experience because forum software has been that way for almost decades now.
Sorting by "new posts" and using the "new posts" as the filter would mean that day, week, month, year etc are all the same except for the number of pages back it displays.
With the topic age being the filter you can actually get a different view with a lot more relevance. For example you could see articles posted within "news" in the last week, and sort by popularity to see what the members think are the most interesting news stories of the week. Then you change it to month and you get a bigger picture.
In any case, yes "all time" and "new posts" is what you should go for, as well as the no collapse preference when that bug is fixed.
Edit: I should have paid more attention to the wording of the filter, I would then have not made the mistake. When I reach perfection I will be sure to let you know Craven.
This is rich. You spend yesterday telling people to question the "wisdom" of "the regime" when you find bugs (mistakes) on our part, and then start claiming bugs that don't exist and are mistakes on your part.
And when they are pointed out to you, you play the "I'm not perfect" cop out. Of course you aren't, but I wasn't holding you to "perfection". I am responding to you being a troll and trying to cast doubt on the honesty and integrity of the people who make the site when you find a simple bug.
So when you start claiming bugs that don't even exist after that, you can bet your trolling ass that you'll be corrected, and your plea of imperfection is ironic given the implications you made about our imperfection with the bugs.