It wouldn't be a minute though. It's certainly not always that quick in rugby or cricket. They watch the replays over and over, from different angles, rewinding and fastforwarding. It's nauseating. In football there's so much stuff that's down to interpretation, the video ref would be on for fucking ever. So you're then at the point where you probably have to take timekeeping out of the referee's hands and pause the clock. Which is a huge and fundamental change to the sport.
I'm 100% against it. The only other thing I could possible see it at some point maybe working for is offsides, if they can develop a system which calls them immediately like they do for goal line stuff.