Why not? Its cheap, and its fun
I most definetely would. But I would still invite all my family and friends. Much, much better then some huge wedding in a church, and god, and the minister spouting out of the bible. $10,000 worth of flowers, and all the other moronic jazz. I'd much prefer $300 wedding where elvis sings a few tracks and then tells you to kiss the bride but make sure not to step on his blue suede shoes.
That being said, where/when/how/who and everything wedding related will be up to my wife. I wouldn't really care either way, but would state my preferences and then let her do the planning