I don't like the US version, so I don't think it particularly works. The hm's that make the best viewing would be classed as threats. After 5 weeks everyone would have their targets and alliances set. I wouldn't want to watch a show where a group like the wolf pack were able to pick the house apart.

Housemates would be more guarded and false. Any desire to introduce the American system must be stopped in it's tracks. We can all watch BBUS if we want, but we take enough of our leads from the US, and being the 51st state is kind of sucky.