the idea itself sounds pretty cool, at least for argentinians... anyway, there are few things which you forgot to take into consideration farjat.
First of all, there's plenty of european players around and my ping to argentinian server (ping www.patan.com.ar -t) is around 400... i guess it makes most of the europeans unable to play HB Neme Argentina.
Secondly, an Argentinian guild makes like 1/2 of elvine strength, as there are many people from this guild wandering around. Having them moved to Arg server would couse towns on Int to be unbalanced...
Moreover, the amount of players online is just a number- the thing that count are the ACTIVE players at the moment... look at the Warehouses of both towns, shops, and count how many people are AFK every moment. Even losing 15 active players would couse a LOT of damage to International activity...
Well, these are things that popped up into my mind... as i said, the idea itself is tempting, especially for argentinians, but running 2 servers simulatenously isn't an easy thing- I'm totally sure you're completly aware of it. You also have to remember that HB is an old game- let's be honest- it is. Some people may check HB, and say- '0mgz poor graphics, and im gettin owned everywhere, i'm too lazy to train skills, and heck these people who already played this game are soooo skilled, unlike me... FCK IT I QUIT.' Doesn't it sound familiar? :P
It's totally up to you farjat, I hope that even if you decide to run Argentinian nemesis things aren't going to change... much. Long live International Neme ! ;)
cheers