Sounds like a pretty good idea pwn, that was one of the things I didn't like about the other is having a large group, tactics, etc... Not to mention being able to get everyone together at the right time to get the ball rollin.
I'm not worried about the prizes either since you said it IS coming out of your own pocket, but that's all up to you man. I would like to get Dude on my team for a 2 person team, I'll wait and see what he says about this and see if he's up to it also (which I don't see why he wouldn't be)