ADJUSTED ELIM HEAD-TO-HEAD
This scheme takes the premise that the best measure of team quality is their elim record. Only two calculations are performed. First, teams get credit for each elim win they have weighted by tournament size. The teams are then ranked, with a lower score being better. Second, the head-to-head records of that team against all the teams ranked higher and lower than they are get calculated. If their head-to-head record against the teams ranked higher than they are is above 50%, they get bumped up. If their record against teams ranked lower than they are is lower than 50%, they get bumped down.
This system is probably more useful assessing the very top teams, and not as useful for comparing mid-range teams that don't have a lot of tournaments in common.