We did a 5 man *all-foil* rotisserie draft with a "minimum 4 cards of a splash color" rule.
The decks ended up being:
* BR Aggro with Nighthawk, Machete, 7 2 drops and Sorin.
* Gr Rampaging Baloths, Woodcrasher, Oracle of Mul Daya splashing Burst Lightning, Inferno Trap and Punishing Fire.
* BU Halo Hunter, Sphinx of Jwar Isle, Sphinx of Lost Truths, Roil Elemental,
* Wu Day of Judgment, Conquerer's Pledge, Eldrazi Monument.
* wubrG Allies with Rite of Replication.
All decks acquitted themselves well with BR aggro showing a 3-1 and Wu showing a 1-3, all others on 2-2.
It was good fun although the general conclusion was that we'd managed to turn a balanced limited format into a bomb-driven one! Day of Judgment, Conquerer's Pledge, Eldrazi Monument is one of the more impressive possible sequences. Although Kicked Rite of Replication on Hagra Diabolist for 49 points of damage was also pretty special.
What strategy would you go for? What's your first pick? How does that change if you do the more normal 8-man?