That's we use for most Australian elections. Election analysts know how that works and it's not much more complicated than what FPTP is, either to cast or to count. We have most of our electorates counted within six hours of the booths closing. True proportional voting (we use a variation of that for our Senates) is much more complex and takes a few weeks for counting to finish.

You'll get a lot of horse-trading between smaller parties about default preferences, though.

Wade.