I think this is good idea and I will be there pending the date.
I think that random teams would be best or we could do a FFC draft ranking anglers by number of posts (not that that means anything about your fishing skills) and then draft accordingly into teams of 4 either by number or allow the top x (x is the number of teams) participants draft teams from the remaining participants.
And we were to have prizes I would suggest a lottery system like the NHL has where the top team gets the best chance but every team has a chance at a prize.