It would be tough to do something like that...to have people draft would be hard. Everyone would get like 1 fighter, and they would fight so infrequently it wouldn't be any good. And if you were lucky enough to say, get the last draft pick, you could end up getting a guy who never wins...I'm not sure what kind of ideas you have, but I don't see how this could work.
I love the idea and i do fantasy everything...baseball,football,basketball,hockey,picke em. I would do it if u somehow had a way of puutin the league together. If u get sumthin goin i will be in your test league.