What I liked best from the proposal was that we could compete for objectives, even against other realms. So if Velax dies, absconds, or implodes, we can chose something like: The first to capture Sasrhas and hold it for one week wins. Or in between realms such as: Arcaea must defend and hold Nocaneb for a consecutive three weeks, whereas Sorraine and Coralynth must take Nocaneb and hold it for one week. Maybe: Arcaea's objective is Arempos and Soniel, Sorraine's is Athios and Attlel, and Coralynth's is Hosiel and Apasur. (Evidently post-Ohnar West conquest.)
Experience tells me that if you leave it open-ended like that, the negotiations on what constitutes a fair objective will cause the whole thing to fall apart. I also find that much, much,
much too "wargame"-y.
This was Jenred's original plan, for those who haven't seen it.
http://wiki.battlemaster.org/wiki/Arcaea/Charter_of_the_Noca