Contests are fun granted.. but only for the winner, the fun kind of pales for the loosers and having your work turned down isn't all that good for moral.
Why not turn your efforts into something with more investment potential
I have a program I started where I'm doing this type of thing take a look
http://www.graphicsbytia.com/form.html
I'd like some feedback on this program if I could, so far everyone has loved it, but I'm sure there's room for improvment. We just put up the first designs here, they've been up for 3 weeks
http://www.graphicsbytia.com/works.html