The Association of Chess Professionals surveyed 30 top players, 28 of whom offered replies, as to which time controls should be used for classical, rapid and blitz games in each's world championship events (plus, for the first, the candidates cycle), as well as for sudden death ("Armageddon") games. The results
Classical: 100 minutes for the first 40 moves, then 50 minutes for the next 20 moves, followed by a final 15 minutes for the rest of the game, with a 30 second increment from move 1 on.
Rapid: 25 minutes per game, with a ten second increment per move.
Blitz: 3 minutes per game, with a two second increment per move.
Sudden Death: Black gets draw odds (i.e. White must win); White gets five minutes and Black gets four; there is no increment.
HT: Ken Regan