My regular group plays quota occasionally, usually team quota but sometimes individual quota. We use the same scoring as the OP noted. Most of the time we have 4 4somes, occasionally 3, infrequently 5. I'm a fan of either game and usually do well. I'm averaging about 2.2 birdies a round this season and an eagle about every 7 rounds. I feel pretty confident when we play quota that I'm going to get some birdies/eagles to offset bogeys and the occasional double that comes from being overly aggressive. No negative numbers, for me that puts me in the mindset of trying to get birdies/eagles early.
When we play team quota, it's the total for your 4some. For us, right around zero to 4 over quota is usually pretty competitive for a team. It's tough to have all 4 guys end up right around their number. When we play individual quota you can earn 1-3 shares of the pot. If you hit your quota right on, you get 1 share. Beat it by 1 or 2, you get 2 shares. Beat it by 3 or more you get 3 shares.
Another game we play pretty regularly and that I'd say all our guys enjoy, we call 6-6-6. 4somes. First 6 holes the players closest and farthest from the green after the tee shots on #1 are partners. Both pairs in a 4some return one net score each hole. Holes #7-#12 we re-pair, again based on closest/farthest from the green, but you can't have the same partners as #1-#6. Holes #13-#18 you're paired with whoever you haven't been paired with yet.
BITD before we had a bigger group when I just had a regular 4some, when we played 6-6-6 it was $2 for each 6 hole match, with an auto press in place if a team was up by 3 or more with 2 to play in that 6 hole match.