In season 4 of The Challenge, the first season without any SIMs on the roster, Wisconsin-Platteville won the National Championship. Bridgewater (nauds3000) won their CC and advanced to the second round. Waynesburg (mojolad) played in their CC and advanced to the first round. Quite the accomplishment considering that all of these teams started with a roster full of SIMs when The Challenge started.
I have a thread in the Bryant forum about the build if anyone is interested. It may not be overly detailed, but it gives a good idea about the process involved in putting together a decent team.