Excellent points..though i would like to add some
-Add 1/2 team(s) for more competition
-Schedules must be planned appropriately keeping venues & holidays in mind.... everyday shouln't be a double header..instead this pattern can be followed: fri-sat 2 match ,sun-1,mon-2,tues-1,wed-2,thurs-1. Thus we can have about 11 matches in a week.
-Among the 5 overseas player playing in a team not more than 2 can be from same country...it was weird to see 5 pakistanis playing for Dhaka yesterday
-Semifinal format should be modified as IPl 2011( only thing that i liked in IPL)
1st semifinal : 1st team vs 2nd team in table>> winner goes to FInal
Qualifier: 3rd team vs 4th team>> winner gets to play for 2nd SF with loser of 1st SF
2nd Semifinal: Loser of 1st SF vs Winner of Qualifier>> winner goes to final
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 Do all the sins you want to do while Sachin Tendulkar is batting, because God will not watch you when he is on the crease. 
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