That's right. Tom Harris, that stalwart of First Past the Post has a blogpost this morning which makes the case for the Alternative Vote. You should read the whole post as I have only included snippets below. He specifies the circumstances in which he thinks it can work well:
AV is a good system for filling a single position. If Britain had an elected president, for example, he or she would probably be elected by AV, or at least in a run-off ballot. That would make sense.Similarly, if a local party is choosing a parliamentary candidate, AV is the best system to secure the maximum amount of support for the victorious candidate from party members. And, yes, when electing the leader of a party, AV’s the system to use.
But when you’re electing 650 people from across the country, you’re not just electing 650 individual MPs – you’re electing a government....And that’s why FPTP remains the best system for the Commons and AV is the better system for electing party leaders. Horses for courses, see?