Hi Nicias,
there have been a few discussions, most without a result, about this topic in the past. Still, there was a kind of "general agreement" that the best way for a multi player ELO would be to judge a game as a umber of 2-player-games. So far so good. But the creators of this page unfortunately have some objections to Multi-ELO in general. A few of the larger issues:
- It may be easier to win against two decent opponents as opposed to beating two weak opponents, who may randomize the game for other players in a way that strength becomes less of an issue. This would lead to players shunning matches against a number of weak opponents, where there would be high risk and little reward. TAMM does not want to encourage choosing opponents based on ELO at all - for precisely this reason, the original ELO system led a very inofficial life.
- Playing strategy in an ELO rated game may easily differ to the strategy in a non rated match due to the rating. Especially in the later stages it would be possible, that players who would otherwise take that long shot against the odds for winning, will now settle for 2nd and at least "take some ELO" or similar situation. ELO should not change the strategy of a game, since not only one opponent is involved, but sometimes also others who do not have any stakes in the actual decision, thus lose control over what happens to their ELOs.
Personally I would still love to see it implemented. TAMM knows, that some of us do, but I am afraid, it will not happen too soon

Terveisiä, Ulkomaalainen