I've got PMs about it before and I've told them I'll recreate it later. This time I'll base it on the real 2008 Arena Tournament event:
WoW -> PvP -> 2008 World of Warcraft Arena Tournament Information
I might even start this weekend if I feel like doing it... It should only take a few hours.
Everything will be the same as blizzard's tournament realm, hunter pet NPC, gold npc etc. except the starting locations. I'm thinking of having same starting location for every race in each faction and disable all other uneeded zones to optimize the server as much as possible. And as last time, I'll delete all old creature spawns and all that. If you have any suggestions, feel free to PM me about it or just post it here.
I'll probably make it for patch 2.4.3 so I don't think alot of people will use it, but I might update it later for wotlk. I want as many spells as possible to work so 2.4.3 is best at the moment.