Tournament Rating System

The idea of a tournament rating system has been around for a while, although it has yet to be put into practice. (NB By rating system I mean the same system used for hotels and restaurants, and not the old Category XX system FIDE used for norm tournaments).
Jovan Petronic has revisited the idea on one of the Anti-Cheating Forums on Facebook, and has even suggested some criteria. The problem he is trying to solve is twofold. Firstly, how to pick from the large number of tournaments that now fill the chess calendar (although this may be more of a European problem). Secondly, to both encourage and reward tournament organisers who achieve higher standards. Stars would be awarded for things like: Prize money > $xxxx, conditions offered for titled players, event running for greater than 5 years, offering title norms, etc
The obvious body to police such a scheme would be the FIDE Events Commission, although they might find themselves overwhelmed with the number of events on the list. And while I am sure the job of 'chess tournament inspector' would be a good one, finding the money to fund a flying squad of judges might be a difficult ask.