GTFO.Of course, which is more reason why it shouldn't be a problem. Smaller cages and shorter rounds, cmon Dana get it done!
You're basically wanting to turn MMA into Shootboxing, but without the gloves and quality strikers. I see enough sloppy boxing wars between non-strikers as it is in the UFC, I don't need to it to become the standard for mixed martial arts in the states.
Seriously (I'm not even kidding), just watch Shootboxing. Crisper striking and they actually know what the fuck they're doing.
[ame="http://www.youtube.com/watch?v=uaDTjBYlB24"]YouTube - What is SHOOT BOXING?(SHOOT BOXING official rule movie)[/ame]