Things that need investigating are:
1. Submission due dates and voting period.
2. Who will organise and run it? This person may have to be elected by the populace if more than one person wants to - it should not be a popularity contest!
3. What rules will guide submissions?
I will be removing posts and editing posts at will, given the serious nature of the way the last awards ended. Please all keep in mind it is intended as a bit of fun, and not some big serious discussion that will end in tears. The awards are not to proclaim users are "better artists than x or y", or users that are more popular than others. Judge the art based on it's credentials, don't take oppertunity to judge the artists personality.
Again, I will not hesitate to remove parts of, or whole posts, and issue warnings if I believe things to be unfriendly. I think we're all mature enough to discuss it though, so I don't think I will have to

Cheers!