Thanks for the responses so far everyone. It looks like there is a 50/50 mixture of outlooks so far.
To the one half, the tournament-bracket style sounds like a fun idea. Admittedly though I would be a little worried about various issues that could arise during the process. What would happen if someone doesn't have a game for a particular round, or if someone bails out halfway through the tournament? I am curious to hear more as to how you guys think we could potentially set this up.
To the other half, I feel the current format works, but I think it could work better. Some games pull more people in and are better-received than others (for instance, Tempest 2000). In other rounds, I get the idea that it's like Chinese water torture trying to play some of these games (example: Dragon the Bruce Lee Story). I suppose this is where I feel that maybe playing the same games each season (with minor alterations to things such as difficulty modes, more lives, or different modes altogether in the case of T2K) would keep things fun and competitive. I mean, a part of doing this is to have
fun playing the games, but when a majority of the games just simply aren't very good, I think people lose interest. Or at least enough to where there's no motivation to put forth any serious effort to score well.
Anyways, I'm still curious as to what others think (I know there is quite a few of you that have not chimed in yet!).