It's starting to look that way as great performers continue to sign on for the July 16th Medusa event in Philadelphia. Local lit celebrities like novelist Lawrence Richette have told me they'll be there to observe. The only past lit show I can think of with comparable energy and talent is the Six Gallery reading in 1955 in San Francisco. This may surpass that one several times over.
Information now up at www.literaryrevolution.com gives a hint about the amazing array of performers, inside the ULA and out (like Natalie Felix, Ish Klein, Devin D'Andrea, and Jackie Corley) who'll be there.
Re: the Read-Off. There are actually now two challengers to "The Masked Professor" (not including the fake Beowulf Poet one). "The Student" got his challenge in first, and from what I hear is undergoing intensive preparation, scribbling furiously in blue books. Another has also come in from someone calling him or herself "The McSweeney's Mouse"-- I don't know how far to judge its seriousness.
More information will be forthcoming about this feature as I know it.