Fastest Laps do not carry has much significance as they used to do in the refueling era, if you want to gauge sheer pace now quali is the best seeing as there is no more refueling, so where you qualify is more indicative of your pace than what it used to be.
That is just not true,
quali has become a balance between setting the car up for the race, and how much raw performance can be achieved to get up the starting grid, by manipulating the drs for extra time that cannot be accessed at any other time in the race.
(the banning of unlimited drs in quali for 2013 is a step forward).
It is incredibly complicated to see where the cars are on pace, because even during the race there are so many options in tyre saving that can give an advantage over a full run. And this swaps with some cars more competitive on high fuel and some better on low.
The tyre balance needs to be so that it is marginal between driving balls out and stopping an extra time, (shouls always be the fastest way) or conserving tyres and saving 20 odd seconds for the extra stop.