While the new quick throw for grenades is an improvement, it doesn't address a bunch of other issues with grenades, such as how frequently what should be a perfect grenade throw ends up being a suicide, and how hard it is to do a precision throw through an opening or into a window.
Dslyexci put together a quick prototype that not only addresses these issues, but also adds a bunch of additional enhancements that would be simple to use and bring Arma's grenade functionality from being worse than in a lot of other games to being perhaps the best around. You can see the prototype in action here: