1) Never, ever, EVER copy the Sun Belt's format. The best seeds to have in that tournament are the 3/4 seeds because they have a weaker opponent to knock the rust off against before playing the top seeds.
2) Best format is what @zippy5 stated. 1 & 2 get BYEs to the semis and the tournament is limited to the top 8 teams. Starting next year, Akron, Ohio, Kent, Miami, Toledo, UMass is a formidable 6, then add someone like Balls/BUGS/WMU for the final 2 spots, and you've truly found your top teams to represent the MAC in the NCAA Tourney.