Last night, JC and I played in a home poker tournament. It was $100 buy-in with no rebuys, and there were a total of 24 entrants. Everyone started out with 5K in chips, and the blinds went up every 15 minutes. I felt the blind increases were a bit steep, but it still took over 4 hours for the tournament to finish.
The top 5 spots were paid, plus there was a 'bad beat' payout to the worst beat that caused someone to get knocked out. The worst beat was based on the exact cards (and board, if applicable) when the money went in. It didn't matter how many chips you had or anything, so if you were down to your last 100 chips when everyone else had many thousands, you'd be hoping to pick up Aces and get them cracked by something like AK. Anyway, the bad beat payout went to KK that got knocked out by 55 (all the money went in pre-flop).
JC ended up in 6th, and I ended up in 7th. So, we were effectively co-bubblers. In a twist of sorts, she was the one that knocked me out. She had about 8K in chips, and I had around 6K. Blinds were 1K/2K at the time, and she goes all in from early position. I call with all my chips from the small blind with QQ, and she tables AK. The flop came out ragged, but a K hit the turn, and I was out. A short while later she got all her money in with A7c, but was called by A8o, and the A-high board didn't come with enough high cards to get her a chop, and that was pretty much it.
It was fun. There was no cut taken out by the house, and the host provided tons of snacks and drinks, which was real nice. I did make back $60 playing some head-up limit against one of my buddies. I had some pretty good cards and pretty much ran him over.