For edification, the rules I used at my birthday party in August: 90 seconds on the clock, 2 points for a correct guess, -1 point for a pass, wrong answer or clue-giving foul. Bonus: got to use my victory point chips from Meeple People that have a number on one side and a star on the other so you can play open or closed points. Double Bonus: The team of yrs. truly, my sister and her boyfriend made use of the 25-point chips. Plural.
The idea that we would play rounds and use the 1-2-3-5 scoring was quickly extinguished. Great to build suspense for a game show; lousy for a party game.
If I was granted Emperor of Remounting Password Plus; the first three puzzles for $100, each one after that worth $200, whoever has more money at the horn plays Alphabetics. Ties would be broken by best-of-three Passwords. This also assumes that the host keeps the game moving at a decent pace, as opposed to having the horn sound just as the third puzzle finishes.