Seeing as how I want to come down and get some more matches in, I'm actually a bigger fan of just having 1v1 best 2/3 double elimination (as per Epic 2k5). Heck, round robin wouldn't be bad too (although I'm not holding my breath). It would let more people have more chances to play and more people to end up playing different people. Team Tournament on the side wouldn't be bad, then you could do 3v3 there...although I could imagine some rather unfair team setups if we go that way.
Besides...individual glory is always preferable to sharing anything.