Well, while I have yet to see a tourny on NB that managed to make it past round 2. I think it depends on other things. :|
1. Who makes it. The main problem is that nearly everyone who ever made a tournament, made it, and then left, went inactive, or simply didn't have enough time. Which is why I first suggest that a mod shouldn't run this (no offense intended). That's the first assumption of making a good tournament, that a mod running it would be great, however, eventually, there's going to be a setback, a hold-up, or simply a dropping because of a lack of time to run it. However, a new member should not do this either. I mean no offense to you Chidori Sasuke, but I don't think that you should be the one to run this. The people who run it should have experience, overall knowledge of where at least some of the previous tournaments failed, and an overall resolve of getting this done, but without rushing.
2. How much time is spent in preparing for it. Take the NB treasure hunt from a while ago for example. That was fairly successful, it's only detriment being the inactiveness of the Battle Arena back then, a problem that I don't think that we're facing right now. But much time was spent in planning this. Which is why I also think that if whoever's starting it was to start up right now, no one should see ANYTHING about it until at least mid-January.
3. Who participates. Like I said, we don't have a problem with the activeness of the Battle Arena right now or a lack of members atm, so this shouldn't be much of a problem. Just wanted to throw that out there. The NB League, for example, would have been very successful. But it was put on hold because of a lack of active, participating members and then... the incident happened. o.o
4. The rules and match-ups. This is a bit more specific, but it still matters. If a new guy is going against, say, HBA who's allowed to use customs then... :| Enough said. Like in the NB League from a while back, there should be at least two, possibly three, seperate brackets. And I do say PEOPLE because if only one, or even two people are running this. It's going to fail, no matter who does it.
So all in all, I'm not for or against this until I see that the above statements, which are within reason, are fullfilled.