Just to throw in my 2p.

Monthly sounds great, i used to participate in the unofficial NSMB photo comp (not the moneyshot just one between forum users) which was run on a monthly basis, and there would be a fresh thread every month using the same principles as this (winner from previous month chooses topic, all entries shot in monthly time frame) and it went really awesome, in fact one of the entries in that won a round of the moneyshot.
If the mods would be able to (and willing to) possibly a sub board could be created with space for entry threads and a winners thread (for comments and crit etc.) and (bear with me on this as i KNOW its been discussed thoroughly) possibly a gallery (flash slideshow maybe?) of all entries in the comp. Just so everythings neat and tidy, and threads dont get lost in the maze of back pages (if it doesnt appeal to everyone)
Im also with the idea of displaying the winning photo on the homepage, would be tres cool. **cough** possibly the winner gets some SDH stickers **cough**

Anyway im with ADY, those rules sound kosher, hope this picks up soon. Havent had the time to shoot in a while but now im a bit more free with time i can
