I don't think I'm actually old enough to have done ELO games.

ELO from the other side.

ELO had no resets, once you had reached a certain level of points (above 2k) you had a good chance to stay there.

However, the idea of having people with more points risking more is nice to me. Something like tables where you risk up to 50% (or whatever arbitrary value) of your points with the actual number being set by the lowest seated stack. Can be abused, but might hold some fun without having thought too much about it.