Australian Coding Kata Championships

I don't know if this idea has legs, but I've been contemplating over the past few weeks whether it might be worth raising the idea of holding a bit of a fun event in Australia in the form of  a "Coding Kata Championships". At this very embryonic stage I'm thinking something along the lines of:

1. Involve as many of the technical developer user groups as might be interested. eg. .Net, Java, Ruby, Python etc. This would need to be a totally open event.
2. Hold state based playoffs with a final national championship. Any prizes to be provided through sponsorship.
3. A set of rules and judging to be developed: One aspect of judging might be based around how "cleanly" a competitor performed their kata based off mistakes/typos.
4. All competitors would have to choose from a limited set of kata (several months in advance) from which they would then register and would perform on the day of competition.
5. Competitions might need to be broken into divisions, maybe by programming paradigms to facilitate judging. Although there isn't exactly a clean separation with regards to that, so I'm not quite sure how that would be managed.

Of course the judging and rules might end up being the thing which ultimately makes or breaks the viability of the concept, so please...

Discuss. :)