To your post's conclusion, I remember a little while ago I was hoping this format would take off, because it's essentially what you're asking for!
This is what I want. Sadly it doesn't seem to have any following, since even the facebook link is dead. Nothing turns up on google.
This seems interesting. I might miss Brainstorm and FoW but I'll give it a try.
Regarding prizes, what motivates Old School players may not be very similar to what motivates Vintage players. There is a big overlap between the formats, but I get the impression that Old School has a more relaxed vibe than Vintage. People might be inclined to attend Old School events for small prizes just to be part of the event. But for Vintage, you might need unique and/or higher-value prizes (like alternate art cards) to overcome the opportunity cost of having to travel, spend money, and so on, to get to an event, when players can instead play MTGO or XMage almost for free at home.
Old School also has that card flipping aspect that requires players to use physical cards, whereas the gameplay aspect of Vintage has been comprehensively programmed for the computer.