Yeah in jams like these it's tempting to shoot too big too quickly, but you can still get something simple out and be ambitious with the idea, and this is something we wanted to try out (but the cost is at one point we simply had to accept the fact that people may simply just not get or like it when we were finished).
Btw if you liked this, please have a look at Cheater's Inn (SLiV's game see link in comment below). It's amazing game with a very similar concept but (I have to admit) they managed to beat us to much more interesting variety in cheater behaviour within the time constraints. I really hope your game comes into fruition, we would like to check it out some day!