Yes, the double elimination format is an interesting twist. But the rest of the rules are important. Bob asked about the .018" lines, and Walt about the use of shut-offs, and the NCLRA rules use 60' lines, not 52'6". At the speeds that a good Clown is flying, 52' lines are just too short for the rotational speed.
I also suggest that you make all of the elimination races 7-1/2 minutes rather than 15. A 15 minute race is really tough on the pilots, particularly if one of them is flying more than one entry. Yes, perhaps the final race could be 15 minutes.
I really want to see your event happen. It's been a long time since that part of the country saw any CL racing action.
Bill