BlackWatch organized one like this a while back, grouped by region...

US
vs
Canada
vs
Europe
vs
International

People signed up, and the highest ranked US played against the highest ranked Canada, Europe and International, 2nd highest played 2nd highest....etc.

Plus, you could (if you hailed from elsewhere) use your ethnic background to join another team (I live in Iowa, but my roots are from Austria and I want to be on the European team).

As long as it doesn't take up our Prez's time (i.e. there is a tourney coordinator), the more tournies the better!
Michael Craggs
IAAPA Prime Minister
Member of IAAPA Executive