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I think GCR works very well with the asumption that a player is not going to diminish a lot his abbilities quickly, say, from a day to another. But if it happens by any reason, the method has the same problems of ELO, and it can be more pronounced in GCR, if the player has a high number of games rated before and his rating is relatively solid-estable: the player´s rating may diminish slowly, and it can´t reflect the real change appeared in the player´s abbility. It is not a secret that Kramnik has some health problems, and it has been reflected in his playing abbilities, but ELO has take it into account after many months and many games played. GCR is, perhaps, even less sensitive to reflect such cases.