Don't let this plan die down. I like the idea and agree with no noss and no rems at all, but who's willing to lead this tournament? The OP hasn't posted here in over a month...
Anyway, a team based tournament is a more favorable choice. 5v5 would work best imo and place a limit per class. I would say allow only 1 class have a max of 2 and the rest of the classes 1 of each. For example, 1 war/fighter, 1 pag/mage, 1 sin/ranger, 2 orcs/priests or any other combination. Just a thought.
Keep the discussion going.