I don't know if it has been discussed before, but if you think about it, there's not really much of a reason for players to join in the PvP tournament. There needs to be a greater incentive to duel than just bragging rights and the chance to maybe get an armor illusion. And that doesn't even work half the time. I think I finished in the top 10 or 15 during the last tournament season, but I only ended up with less than half the points I'd need to get even 1 piece of the armor illusion. And I couldn't find an opponent for the life of me.
I think in addition to the way it is now, there should be rewards of actual gear. And whichever league you end up finishing in, determines the quality of that item. Or maybe instead of just one, you get to choose from multiple ones. That way you keep people participating who've already won before.
Maybe to minimizing it being over powering, give it a unique ability that only applies to PvP battles. Like a spellbook that increases the amount of gold you get from PvP. Or a headgear item that gives you a concentration bonus for duels. Or possibly a unique spell with an effect geared toward duels. Or anything like that really.
Then the prospect of getting the reward will encourage tournament participation, and then having the item itself will do that as well.
That way everyone would be battling to achieve an actual in-game benefit.
Because frankly, if I wasn't somewhat of a competitive person who enjoys the idea of battling real people, I'd see no valid reason to spend my time on the PvP tournament at all.