I appear to have missed quite a bit here.
Kgp4death, the book Tadao is referring to is not the one I am planning on writing for this. It is a different one. Two in fact. (Which I e-mailed to you Tadao, check your yahoo account).
And actually there is
a prize of a sort. If you make the 50k word mark, a company will give you a code to redeem. If you use it and send them your manuscript, they'll mail you a printed copy of your book, totally free.
And finally, yeah I am doing it. I've got the plot all figured out and all that's left is for me to finish the outline and download the sarcasm font. And get my Medieval Imagination essay out of the way.