Blizzard is no stranger to Ironman-type challenges. Both Diablo and Diablo II featured rough hard modes that would cripple those who were not the best. Frankly, the fact that there are players out there putting together these difficulty challenges probably makes a lot of folks over at Blizzard very happy.
Some of these Ironman Challenge rules are pretty brutal. Death is death -- if you die, delete. End of story. Better make it a PvE realm choice, if you want to curb a lot of nonsense-deaths. You aren't even allowed to use talent points, including the one to pick your specialization. No specialization is a rough road to take. If this is your kind of thing, brutal self-hatred, you're going to have a ton of fun.
Head over to the official WoW forums to check out all of the rules and FAQ. If you do decide to try the Ironman Challenge, share your progress in the thread.