I like it, FastKnockout! Here's what I would do: keep the ranking pages the exact same, your 1-10 for each division. Then add a spot at the bottom (or wherever) for your favorite fighter in that division.
Then you still have your top 10 favorites page, encompassing all weight classes, along with your favorite fighter in each weight class. Perhaps a favorite spot in the P4P ranks so you can choose your P4P fave.
Just how I would tweak it! Not trying to be a swagger jacker
Great suggestion though, I am all for it however it would be executed