I don't like Poker Room much. I think Ultimate Bet is pretty reputable but I'm not sure they offer the tournaments with passwords. Theirs you have to submit the day before who is going to play I believe. Poker Stars has the same kind of private tournament though where you just register by entering a password.

I don't think there is anything wrong with Full Tilt though. It's reputable if that's a concern. There are so many pros involved their names would be dirt if there were "issues".