I'm sure it's been thought of before buuuut:

Once I find a place to settle down in for tourneys I'm going to run and unrestricted and bring in big boxes of extra figures. Not one figure in the boxes is considered "Tourney quality" and there are no uniques/le's.

Basically, the players will all build 450 point armies out of the figures and use them for the tourneys. In addition to the prizes all players will get to keep the units they built their armies with.

I'll encourage all the players to donate extras and I have several people who have promised me their "junk" units. I also have at least 360 of my own.

We will also heavily promote an encourage new players to participate.

I think such and event would be a fun break from the complaining and such going on about competitive events.

Also I think that restricting artillery to one unit would be good as well.

Does anyone think that such a game would be any good?

Its like big box draft in MTG, everyone "donates" what they don't want to the pool, you make up packs and draft them

It could be very fun

Sounds like great fun. Also would be nice to keep someone from going pog crazy.

Our Battlemaster (before he turned the job over to me) ran somthing similar - He built brown-bag boosters, and they each contained 1 ICE mech,1 low point cost vehicle, and 2 non-armored infantry. Each player got 2 boosters like that, and 1 booster that had a MOD mech and a transport. We called it 'Militia Wars', and it was a hoot.