It's a hazy memory but I'm not sure which regionals I've done that had rules. I know the North West used to have about 5 of us racing 4WD at a regional!!! Never a mention of any rules and no scrutineering that I can ever remember.
You're bang on with regards to how level a playing field it is - there's no need to cheat, there's no reason to over-cook your cells, there's no reason to run an 8th scale brushless motor.
Next the 'double yellow' rumour will surface and all hell will break loose in here!