I love this idea. I've long thought they spoiled real life for the participants with extreme and impractical dating scenarios. Instead of death-defying jumps from buildings/bridges or helicopter rides over mountain ranges, they should have real world challenges like stretching a budget: Shop together for a homecooked meal with $10 and fresh ingredients and you have to cook it together.
If you put them through the ringer, they might find who is better suited for real life situations (screaming kids in Target, burned dinner backup, overflowing toilets, scheduling the cable guy, whatever) and who you really want to spend your life with once the sponsored dates are long gone.