In my humble opinion, MMA has the best conceivable format for female athletes. It's understandable that other women's sports would have trouble drawing the attention of viewers. However, I think that isn't the case for women's MMA. The reason is the very nature of the sport itself. MMA isn't about leagues or teams, it's about two individuals in a cage, going to war. It's the most primal and instinctual type of competition between to human beings. Regardless of who's inside the cage, something about the struggle between them hits a primordial nerve deep within us all.
This is why I do not understands the UFC reluctance to embrace women's MMA. Nothing special needs to be taken into consideration. Organizations like Srikeforce have already come up with the perfect way to handle fights between female fights. Simply mixing them in with the male fights works absolutely fine. All you need to do is make a belt, get some female fighters and put a female fight on a card here and there. Where is the downside?