Are you interested in knowing what the quality of your locations will be? If this is the case, you can use the geometric dilution of precision (GDOP) concept to analyze the network's capability to provide a good quality hypocentral and time solution. Find attached a recent paper regarding the application of this method to seismology. However, if you will be using the data for reflection seismology, then disregard my answer.
Article A Closed-Form Solution for Earthquake Location in a Homogene...
Lee, W. H. K., and Steward, S. W. (1981). Principles and applications of micro-earthquake networks, Advances in Geophysics, Supplement 2, Academic Press, New York.