Awesome. I'm leaning toward AU as well, as it gives a better opportunity to produce a more original story. Any suggestions regarding a general plot? I've got a few arc ideas.
1. Saiyan Queen: The Saiyans and Arcosians(Frieza Race) Have been at war for centuries. Throughout their conflict, they've traveled throughout the galaxy, claiming any planets they come across as a part of their respective Empires. The war's waged across the galaxy, and the Saiyan Empire has finally reached earth. The Saiyans, lead by their ruthless Empress of Pain, Queen Sorrel, begin their campaign on the unsuspecting planet.
2. Demon Saga: A powerful demon from another dimension uses dark magic to force his way into the world of the living, and begins raising a powerful army to turn the Earth into the capital of what will soon be a new Demon Empire.
3. World Martial Arts Tournament: Just start it off with a good ol' fashioned tournament. Nice, simple plot that can easily and comfortably introduce our characters to each other.
Any of this sound interesting? Any suggestions?