My team has won the NA cup 4 out of the last 6 seasons and I would have to say, with the exception of this season, it was never a walk in the park.

A few months ago I tried to implement something similar to some proposals..with a few tweaks and updates here is the result:
I used this arbitrary ranking system:
Ironbowl win: 5 pts
Ironbowl rr: 2 pts
League/Cup: 1 pts with multipliers: 2x (CE, ASE, NAm); 1x (CSAm, E-B, Oc, EE); 0.5x (Asia,Af&Ar)

RANKING (top 20):
1 Guanacos 30
2 Grizzlys de St Laurent 27
3 Sparta Nijkerk 26
t4 Wilhelmshaven Seawolves 24
Badgers 24
t6 Hakers 17
San Diego Blitzkrieg 17
t8 Rotterdam Bashers 15
Mordland Colders 15
Orlando Gators 15
t11 New York Midgets 12
WKS Slask Wroclaw 12
t13 Slumbering Skink 11
Zarnovica Terminators 11
Monsters of Midway 11
16 Reservoir Docs 10
17 Weasels 9
18 Kentucky Thoroughbreds 8
19 Bat Yam Raiders 7,5
t20 Westside Wildcats 7
Kasztelan Poznan 7
Ostankino Emo Duck-Bills 7
Green Bay Blazers 7

It's nice to have a point system, but in my opinion it isn't essential since there is no way to determine the strenght of a region and simply being in a HoF is an impressive achievement!
btw, the current top15 in the HoF is pretty much spot on the only change is Kasztelan Poznan out, Monsters of Midway in..Against MoM is that they never won a league title (but they faced 2/3 hall of famer every season), while Poznan consistency (cup in s.2,12,14, title in s.13,15) could be rewarded. I can see Abcat point in including K.Poznan, but it could mean 2-3 teams with similar achievements should be considered