Have you ever had a listening party?

At dinner the other night the discussion turned to my recent poker party. While I am not a good poker player and only play every three to four months, it is fun to get together with a group and play. Knowing my love of music and the hobby of audio, one of my friends suggested I host a listening party. While I have had audio friends over to have equipment "reviewing" sessions, I have never hosted a listening party. Suddenly we were discussing how to structure the party, what music could be played, how everyone would interact, etc. I realized a listening party might be fun but I don't have the slightest idea how and where to start. This is where you come in, my knowledgable Audiogon friends. Has anyone ever had a listening party where the partiers differ widely in their tastes/love/knowledge/experiences of and in music? I have thought of playing short segments of each person's favorite music (any type) and then some discussion about the piece would take place. Tell me about your experiences and ideas.

Thanks,
Rayd