One of the reasons there hasnt been any low rank tournament is because most low ranks dont know how to play well, a tournament is suppost to be competetive, most low ranks are not used to play in small maps, they like freedoom to expand, they dont know how to handle a close range 1v1, and they like high budgets to start with, specially with 0-4 ranks.
i can see a tournament between players wfing eachothers on first turn, or sending all units twords enemies land instead of expanding, making useless walls, or not walling at all.
my opinion is that 0-4 is too low, i mean a rank0 is a player that just started, dont even know what units to use, or what cities to protect, if you can remember urself playing when you were that low you know what im talking about, however is nice of you to think about low ranks
maybe 3-6 would be more wise choice, no alts allowed...
also you will only get a couple decent players, so i dont think is really fair to give a medal to someone who beat the crap out of skilless players