DJE, I think some of the things you need to think about for the world cup are:
1. Whether you want to keep regional teams
How teams are going to be organised (maybe allowing it to be done by country rather than by region) and then having more than one team per country, since USA in particular lost out where it had a lot of good players just very spread out (London was lucky to turn out to be essentially the UK A team).
2. Getting the tournament more punctual.
Being long isn't a massive problem. This tournament is pretty big (it started off with 21 teams of 4, and though most of the players only played one game, it is still a big tournament. Being in rounds makes it longer too- the leagues don't really compare well because they can just *happen*. Its not much smaller than the GFDT, say, which also takes about a year.
In short what I am saying is that you don't need to cut down how long it took, but rather make sure that it happens punctually- get finals underway quickly after the first round, get games set up quickly and so on. This is really hard with so many players, and requires a lot of effort (maybe more than & those helping you realised).
3. How often should it run?
Do we want to run a new on just yet? The GFDT is just about to enter its final, the Leagues are in full swing, the Masters is underway, we have gunboat tournament coming up as well it seems.... and this tournament does demand a lot of players, so we may not as a community be able to support it so well.
More broadly, it might be worth making it biennial, rather than annual (then again maybe I'm just tired :P)
However, I must say I was very impressed overall with the tournament. My first tournament overran horribly, and its very hard to get them right. This one was great fun. Running tournaments is not easy, and I guess getting out the other end able to announce a victor is the the benchmark for success.