not really, i mean either way i think they'll take out the HP first regardless, though if you allow for resurrection then why not just have your other team members bring in ygg leaves? unless of course you're not allowing those on your consumables, then the only real strategy is to take out the HP, which will be difficult regardless.
strategy after that is pretty moot in either case as there won't be the possibility of res'ing the HP unless you had multiple HP in the party.
i think it would make it far more interesting to make it so that there's no res'ing at all, once a team member dies they're gone from the arena or what have you.
though instead of having scheduled PvP tournaments, i think it would be somewhat better to set it up so that any time you wanted to get a few friends together for a tournament then you could do so.