On Susan Polgar's chess blog, I read that the rules for this year's US Senior Open (April 28 - May 3 in Boca Raton, FL) offer an interesting alternative to settle the age old question of how to most fairly resolve a tie for first place. Since the winner receives an invitation to the 2008 Frank K. Berry US Championship, it is important to determine a single champion.
In case of ties, there will be a one-game "Modified Armageddon" playoff. White gets 120 minutes in sudden death. Black gets draw odds. Players open bid against the other player for black. The player willing to play the black side with the fewest minutes gets black and draw odds. The game will not be rated.
How low would you go? I think I could manage between 60 and 90 minutes, depending on my opponent's opening repertoire and style of play. At less time than that, I would simply let my opponent have black and I would play to win with white.
Of course, the same principle can apply to a blitz playoff. White starts with 5 or 6 minutes and then the players can bid for how much time black gets, decreasing in 30 second increments. This is a variant on the traditional 6 minutes versus 5 minutes. A faster player who is confident in his ability to draw with black might take 3 or 4 minutes just to earn draw odds.