Thank you every body for your replies on this one while I have been away.
I also contacted the Convergence Cornwall office as they where mentioned in the press releases and they where very helpful in passing on my query to Cornwall Councils Transport Policy Officer who asked the General Manager at First Great Western to contact myself.
This he did on Friday, unfortunately I was not around to take the call but he left a very clear comprehensive message in answer to my query. I feel genuinely privileged to have received ecellent feedback from such a high level.

He explained the situation where the branch service was a fixed clock rotation that had to best fit with the main line non clock rotation taking into account the mainline shared track.

So from this my understanding is the situation came about because FGW^▸ (First Great Western) had to produce a fixed "Clock Rotation" timetable that I believe was requested by Cornwall Council ?

This seams to be the nub of the problem as the shared main line is non Clock Rotation and the new timetable is a best fit for the whole day. I have not looked to if its possible, but maybe having more flexible timings though out the day on the branch could help?  Dare I say it less trains more connected please.

In reply to the previously tight times, yes ten minutes would be better for the stress levels especially if picking up tickets.

From Monday the new timetable came into effect on the Falmouth to Truro branch. The headline after spending a few million pounds on signalling and a passing loop, was a more frequent service.
But and its a big BUT, is anybody else finding the increased waiting time to make a connection at Truro is putting them off using the train for travelling within Cornwall ?
I myself was more than happy to park at Perranwell and just over an hour and ten minutes later on average be in Liskeard, now I am facing much longer unacceptable waiting times in Truro.
FGW^▸ (First Great Western) have advised :-
"We have made a number of changes that will enable us to operate a more punctual service, making the connections that we do have, robust and reliable.
I am sorry that your journey times are longer, but making these changes has meant an overall improvement to the service that we offer and this must be our priority. "

Please if you are affected by the new time table contact FGW and get a case reference number which can be used to help raise the profile of this issue with www.passengerfocus.org.uk and maybe we can influence the next time table a little way to serve passengers rather than performance.
Thank you
Paul R