I would definitly like to see this. TUF used to be my favourite program, season 1 was amazing and there were several others that were brilliant over the years. However I am getting tired of the same old formula, the fights can be exciting but the skill level of the fighters is often lacking.
I would personally love to see another comeback show, fighters we know, that are highly skilled. The fights would be very entertaining. I think it could definitly rejuvinate a few careers that aren't going as planned.