I can tell you it would not work. I think far to many of the celebrities would want out when the going got tough. Either that or the producers would take it easy on them, taking much of the fun out of it for us.
Personally, I'd love to see Paris Hilton, Nicole Ritchie, Martha Stewart, hmmmm, who else would you like to see on a celebrity Survivor? Mostly I'm thinking people you can't stand.