I don't hate Patrick Chan! Really, I hope he does well. He's probably incredible when he's on! I'd like to see a clean performance from him. And you're right. You don't want to make the penalties for falling so severe that people are afraid to try anything. But whatever the penalty is for falling, I still think it should be more than what it is for flutzing and ur-ing. Perhaps the penalties should be less severe for falling on the hardest jump (quad for the guys and axel for the girls) than the "easy" jumps. Or perhaps they should add a bonus for trying the harder jumps, or just add points to the score as a bonus if they land all their jumps on one leg without a fall, big step out or hand down. They can still get that bonus even if they flutz or ur (although they would still deservedly lose execution points on those particular jumps.)
Excellent skating skills and presentation should still be able to overcome a fall (and should definitely make up for a step-out or a fall on a quad), but several falls? I'm still not convinced.