I like infinite timer because it allows players to fight to the finish without a timer stopping fight and just handing the win to the one with more health at that moment.
Timers were originally established due to fighting games originating in arcades and the money factor in the time equation plus the potential amount of people waiting their turn.
So timers were placed to minimize the amount of time a round can last, and therefore get more matches happening
and more money the machine fills up with in less amount of time.
But with consoles and stuff, timers really aren't necessarily in KOF, in a sense, they kind of interfere with players being able to fully deliver their
complete effort in winning the round.
Timers also diminish the possibility of skillful comebacks from occuring, and players aren't able to savor the round to their fullest.
Yes one can argue that rounds typically finish before the timer runs out, but that still narrows down the nature of the fights instead of allowing the battle to naturally continue until one is left standing. A round ending by timer is pretty anticlimactic, if you ask me.