I'm just thinking of doing it up here on the forums. At first we can have a couple polls for the catagories that we want to have; Game of the Year, best music etc. Then we can choose the nomines, and then select the winners.
Well, if I were you I'd start by picking the categories. Mai had some good suggestions, and you could probably come up with one or two on your own. Then once you have those you can post a new thread asking for nominations from us for each section. Once again, you pick and choose what you like for nominations, or poll it up if there's any discrepencies, and then just make a bunch of polls for each category.
Well once Link gets his act together we could all nominate a game. Well, no, that wouldn't quite work, because then everyone would just vote for their own. Either way, I'd nominate Call of Duty: The Finest Hour for best sound and soundtrack.
Personally I think there should be 4 per category, and if more/less than 4 are nominated Link has the final say so he can add/dismiss any nominations he wants.
Don't start talking what game you want yet guys, just keep it in your head for now. In a couple hours the catagories will be up and we will decided if those are the ones we want.