I seem to go back and forth every couple of years, feeling that it might be interesting to have work shown in contest-type shows from time to time, but my experiences have been enough to leave me with a permanent distaste for the whole process. Honestly speaking, and I'm not trying to be critical in any way of anyone's views here, I get a lot more out of interacting with people viewing work displayed in a group gallery show or by showing prints directly to individuals than I ever got from anything sent to a contest.
Randy said it better than I did.
Warning!! Handling a Hasselblad can be harmful to your financial well being!
Nothing beats a great piece of glass!
I leave the digital work for the urologists and proctologists.