The official brackets, though I'm sure they're subject to change:
All good, but could be better. It makes sense that Overeem is immediately paired with the division's number one contender-- and from what I've read, his title will be on the line throughout the tournament-- but it would also be ideal if the matches allowed Fedor potential shots at both Werdum and Overeem. Set up as-is, that can't happen. Fedor defeating Werdum in a rematch and facing Overeem in the finals is tourney gold. Assuming they would be the last two standing, of course.
I would have left Overeem out of the tournament, and had the tourney winner face him for the title. His open spot could be taken by one of the up-and-comers. It's time for Cormier, Johnson, and del Rosario to step into the big leagues, anyway. Cormier vs. Barnett and del Rosario vs. Arlovski could both be very compelling, torch-passing matches.