Even with the packed tent and good lineup last year, I don't know if it really worked. It was too long, too early. I didn't even see Patton's main set...I just couldn't sit there any longer.
I think you'd have to do it Roo style. Comedy tent...several 1 hour shows repeated over all three days. Just have the UCB set it up.
EDIT- BTW...I wound up getting a free Comedians of Comedy shirt sent to me. They printed some shirts especially for Coachella, but I guess they aren't allowed to actually SAY Coachella on them. Rather than destroy them, they gave them away through Myspace.
The set up for the comedians at Bonnaroo sucks. While they did book awesome acts like Flight of the Conchords.
The main issue I had with it that you couldn't just come in at any time. You had to wait in line until the next show time and hope you got in. So you could end up standing/sitting in line for a quite a while to see the comedians. It's not worth it to me when it's hot and there are so many other stages of music.