I designed a similar system (technical term/name for this style of drive is 'nested tube', see notes about WCD above) in 2011 when I was on 816 and it worked reasonably well, although servicing it was a complete pain - or at least when servicing anything out of the norm. Here are some pictures:
Frame:
http://www.chiefdelphi.com/media/photos/36107
Completed Chassis:
http://www.chiefdelphi.com/media/photos/36163
Some general specs:
Drop Center 6WD
6" AM Plaction Wheels, Roughtop Tread
AM Super Shifters, Standard Gearing
Direct Drive Center Wheel, #35 Chain to outer wheels.
That drive didn't have any method of tensioning* and we never had any issues with the chain tension through two regionals and the off season. The drive only ever had one major failure that I can remember - the tread on one of the wheels came off and lodged itself in between the wheel and the tube.... Other wise, aside from needing to swap out the roll pins in the Super Shifters for 4-40 screws (or the other way around, it's been a while) the drive was solid.
* The Chains were 'dead spaced' meaning that they were spaced on exact center to center distances. #35 chain is really easy to dead space as it's a bit more forgiving to misalignment and weird tensions, #25 is a little more difficult, primarily due the tighter tolerances on tension and misalignment. (341's drive this year has a total of 6 #25 chain spans that have been dead spaced, no issues yet *knock on wood*)
Another note on dead spacing in drive applications, I only recommend doing so if one of the wheels is direct driven from a transmission. If one wheel is direct driven and all other wheels are chain driven a lost chain shouldn't render the entire drive useless for the rest of the match.