I'd like to see a tournament similar to the ice hockey world championship structure. Have nations of comparable strength split into divisions.
For instance:-
World Championship Division - Poland, Denmark, Australia, England, Sweden and Czech Republic
Division 1 - USA, Russia, Finland, Germany, Slovenia, Hungary.
Division 2 - Latvia, Norway, Italy, Scotland, France, Croatia
Division 3 - Ukraine, Austria, Wales, Argentina, Holland, Canada
Division 4 - Slovakia, New Zealand, South Africa, Romania, Malaysia, Estonia, Bulgaria.
Annual tournaments, six man teams, two groups of three, race each other once. Top two from each group battle it out for the medals with semis/final and the two nations who finish bottom of the division raceoff with the victors staying in the division and the losers being relegated to the division below. With the winners of the lower division winning promotion.
So you'd have a week long event for all the divisions, with a separate country hosting each tournament. The logistics of the lower nations competing could prove problematical due to finance, etc. A few of the nations would struggle to find six riders but i'd be interested to know if it would work.