Helped a friend earlier this year with a h/c job. He bought a QTP 2pc timing cover, and although it was a really nice machined billet piece, I still cannot see doing a cam swap with just the top half of the cover off.
As you can see, it's impossible to see the crank sprocket (dot) with the lower half of the cover in place.
I guess you could match-mark the chain to the cam sprocket prior to removal, and somehow prop up the chain to insure it never leaves the crank sprocket during the swap...but that still seems awfully risky to me. Just verifying dot-to-dot is a procedure that should be double/triple checked...I can't imagine doing it blind with no means of verification.
And speaking of verification, degreeing the new cam becomes another challenge with the balancer already in place.
Neat idea, but in practice I don't see a 2pc timing cover greatly simplifying the process at all.