This or something similar has been suggested in other threads but not as a thread on it's own I believe. I agree with Goat this would be best suited as a multiplayer format rather than 1 v 1. In one of the other threads Blueh Suggested a battle dome type thing where you would fight waves of baddies. I think this would work good for that. I think Zone actually has arenas with this concept as well where its all out war with how many ever ppl want to join. Either way I like the idea,and would like to see choatic anythng goes multiperson type survivor battles.
Perhaps they could make it so each person has to wager or put in a ante like poker and who ever wins the match gets all the gralats from the pool.