I recently just started a league that is completely based on fictional fighters. Granted, I'm very new to using the game and probably don't have as much in-depth knowledge as many of the people on this board do, but it was something came up with in about 24 hours and, so far, everyone that has signed up for the league seems to think that it will be something worthwhile and fun to do.
To check out the league, go to
http://cba.mindwipesports.net
The league is called the C-Note Boxing Association. I'm still trying to finish creating and developing all of the pages for the site, but there's been such an interest to get the league going that I'm already working on running cards.
Essentially, I took all of the ratings (minus conditioning...) and broke them down into four groups and, for each group, assigned a certain amount of "rating points" that people are allowed to distribute amongst the ratings. I didn't include conditioning into these rating groups because, as I read it in the TBCB manual, it wasn't as much as a rating as a scale of how well conditioned a fighter is. So I set every fighter's conditioning rating to '2' (not super tip-top shape, but not a slouch either). I did this because it seemed to be the best way to keep all of the fighters within a certain range and make sure that people wouldn't just set all of the ratings as high as they could. I've run hundreds of bouts using some of these fictional characters and I'm seeing that fighters are not over-dominant (which, for a completely fictional league, I believe is a very good thing since it gives their creators hope that they have a chance to win every fight rather than going into a fight with someone and thinking they don't have a snowball's chance in hell of winning.) In a series of 7 bouts, fighters are splitting the series 4-3 or 5-2 much more often than they are 6-1 or 7-0.
Anywho, feel free to check it out and let me know what you think. As I said, as I am learning more and more about the game, I'm tweaking and making adjustments to the league as well. We've got a good group of guys and are always open for applications.