Leshrac, I guess, runs a lot of these through MOTL, and from what he says that type of system doesn't really work all that well either. It might be worth a try though, since that appears to be the format of choice amongst our members.
I had thought about running a Gizmo Highlander league a few months ago, but I've found that I really don't have the time to do it. Personally, I think League play would be the way to go here, though that has some problems too, since the players would still need to find each other to schedule matches.
Either way, someone would need to take on the responsibility for organizing things. Anybody willing to be a T.O.?