A majority of the flash game competitions are best avoided, because they require exclusivity. The prizes can be so low even the winner won't really gain anything from winning, i.e. getting the game sponsored could have been more profitable.
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I totally agree. And the word needs to be spread - with informed developers competitions would be forced to become more realistic...
Using the blog model; if i could find a few contributors it wouldn't mean a large time commitment - more reporting on things you come across. If each posted competition could be given a small informed review - with particular relevance to its worth, license and terms.
Markham I think both Kongregate and Newsgrounds run a pretty similar competition (updating first post to include links)