I went for character standings just for consistency. To please both sides of the issue, I may just decide to do both players and characters in separate standings- however, then I'd have to do it on the main thread too, which is yet another reason to procrastinate and play online Starcraft while everyone is getting pissed.
Anyway, please go join our soon-to-be-open-to-the-public league by joining for our "Closed Beta" tournament!