my math department is playing with
1-1-2-4-8-16. So you get a cumulative 2 points for each 2nd round pick, cumulative 4 for each 3rd, etc. I still prefer a more linear system like HME's.
I've also played a system where I get bonus points for a team's seed after the 2nd round. This gives some more chances to players who picked the correct upsets, and not a "can't win without picking the winner" situation.