Setting odds for poker tournament

[arbuthnot]

I'm trying to set some odds on players in a friendly, low-stakes NLHE tournament. We don't expect more than 20 players and most of them are regulars to our weekly cash game.

We've had a few tournaments before like this, so some previous performance exists.

I guess I'm more interested in the process that one would go though in order to set lines in a case like this.

If it's a very complicated process involving lots and lots of research, then what are some quick rules of thumb for making more accurate guesses?