Firstly for red, the switch happens during the bowlers run up, namely just before the delivery stride or "winding up" as you so americanly put it
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Moving onward....
Test cricket will still be popular to purist cricket fans. I prefer test cricket to T20 and im sure the players do as well. Many have said that T20 is fun and a welcome break but its Test stats that people remember and what you base your career on. The money flowing into T20 may encourage young players to develop their techniques in a T20 fashion, that is the main problem.
The popularity of the test game will stay the same, as it is only the real cricket fans that like it anyway. T20 attracts new fans that the sport would not have had otherwise and so they are a benefit.
Test cricket needs to stay as it is, with all the traditions and anyone who gets into cricket will still understand that the Test arena is still the great proving ground. The big names in cricket have all prospered on this stage and their limited overs statistics are less important.
Cricket as a sport needs to find a good balance in the calendar for all of this cricket that people are now demanding. The limited overs domestic league has taken a back seat at the moment and I think this could be removed altogether. This is not because i believe that T20 should be the only limited overs competition, quite the contrary. The Friends Provident trophy is a 50 over competition which is much better than the 40 over league. It could be expanded to have more games, which will ultimately take less time out of the calendar compared with the current FP fixtures plus the 40 over league.
The money in cricket is a new phenomina that needs to be embraced and the governors of cricket just need to make sure that traditions are safe and that the sport moves forward in the best way.