I like the idea, though I would like to see less cooperation amongst the players from each website. Though, if I were in a game and I had a choice to take a territory from a WaW or CC opponent, I'm sure I'd pick the CC player to attack.
I suggested in the WaW forums that to keep things lively, if one competes in the tournament, they are ineligible for the next few months. That way more players will have an opportunity to win the prizes and to represent their site. Otherwise, we'll have the same pool of players competing every month and it will be less about the sites and more about the top tier of players.
Oooooh! Why don't we have the best compete, and the WORST compete.

Pick the best 6 and the worst 6 as far as ranks go. Heheheh. That would be very interesting, indeed!
vV