However, the article that nimi linked to says he's been taking also important places in IOC by the year 2003:
One of the WSF's main aims is to separate the governance of figure skating from speedskating. The ISU oversees both, and Cinquanta is a former speedskater. The WSF, in a video presentation, called him "hopelessly out of touch," "hopelessly evasive" and "hopelessly misleading."
"The facts and reality prove that these comments do not deserve comment," Cinquanta said.
If this is true that the sponsors and the money have withdrawn dramatically from US figure skating since, the USFSA might regret their choice back then. However, they might also have little motive to make their choice today. What’s the point to fight about a sport that’s been milked to death already?
Does anybody know how the WSF story ended? Did they try to develop any non-Olympic format?