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best 2 of 3.
With your system someone could beat me twice 5-0, and would get 8 VPs with a diff of 10. But if I wanted to keep them down so my buddy could finish higher, I could just forfeit the second game limiting them to 8 VPs and a diff of 5. I don't think it's a good idea for the loser of a matchup to have that kind of control over the winner's differential.
The only thing I don't like about 2/3 is that it requires people to come up with more time during the week to devout to Redemption.