I think that the timing is great, since playing late at night, because it's 'prime time' in the US sucks. I'm not much of a poker player, but I have a friend who really likes it. I'll pass the info to him and perhaps he'll join you guys as well. As for the stakes, I think they have not been discussed enough yet. I agree it would be good to set them in BTC rather than $, like buwaytress said, but the stakes should be low since there are people used to playing at those poker tours with really cheap tickets ($1 sort of thing). My friend is one of those people who usually play at low-low stakes, but hopefully, he'll join you.
Edit: Sorry, he said he prefers poker tournaments with guaranteed prize pool.