Coach Chass,
I'm not from the area and I don't know the area that well but I'll add my two cents anyway.
It seems that most successful competitive clubs that field more than one team per age group go A-B-C, at least by U-12. Sometimes the name is overtly obvious (Premier-Challenge-Classic) and sometimes a more covert approach is taken (Gold-Blue-White).
As for whether you have enough kids in the low country to pull this off, I would say "yes", but I have heard parents complain on these boards that the drive from Mt. Pleasant to Summerville (and vice-versa) at 5:30 PM isn't pretty.