I'm still up for this idea! I was actually thinking about this thread not too long before you posted and was wondering if anyone would still like to organise it. I'd be happy to help with anything that would need to be done.
I'll have a think about some possible ideas for rules and prizes in the mean time.
I think it would be all right if we could choose who to team up with, or we could simply allow everyone to send in their 1st, 2nd & 3rd options for the talent team and distribute everyone among the teams accordingly.