I've seen that challenge, and was agog at the prize money -- that's more than any of the big bluestocking lit contests pay, by a lot! But I hadn't seen a link to the previous winners of the Night Owl challenge, so your including that is a huge service to your readers who write. I personally love writing contests, possibly because I've won some nice ones, and I don't understand the kvetching about them. My feeling is, if you've got a story that fits or you truly feel moved to write one, it can be really energizing. But to write something you wouldn't otherwise, hoping to win the big bucks? Then you might indeed be wasting your time.