Fractional lambda switching (FlS) is a novel approach for traffic management over all-optical networks with sub-wavelength provisioning capability. The unique characteristic of FlambdaS is the utilization of UTC (coordinated universal time) for switching with minimum or no buffers. Several central research issues are still open in FlS and need to be formally defined and analyzed. In this paper, we introduce three novel switch designs that are based on the use of tunable lasers (which can be replaced in the future with wavelength converters). First, the paper presents analytical results of scheduling feasibility, which measures the total number of possible different schedules for each switch design. Then it is shown that the architecture with the highest scheduling feasibility is strictly non blocking in the space domain. Next, the paper provides a closed form analysis of the blocking probability in the time domain, which is applicable for any strictly non-space blocking switch, using combinatorics. In addition, the paper provides measures of the switching hardware complexity, which, for the strictly non-blocking architecture, has the same switching complexity as Clos interconnection network, i.e., O(N'sqrt(N')) where N' is the number of optical channels.