You guys probably haven't seen this but in Australia the govt broadcaster (on their second digital channel) have a gaming show called "Good Game".
link
They have done a couple of articles where they (the staff of the show) play a (supposedely) well known Aussie group in a particular game and televise (with commentary) the game.
I've only seen two (Counterstrike and another FPS), and it was semi-OK TV.
When I played a fair bit of RTS I'd watch game recordings (Age of Kings had a really good ingame recorder) - you got to see the game as seen by the person recording. This was useful but would be pretty boring (I think) for anyone not interested in the particular game and also tended to be pretty jumpy (screen changes based on mini-map clicks and hot keys
would confuse the shit out of the average viewer).
Fully agree on the RPG (or MMO) - there'd be a lot of 'wtf happened there?'