Brian,
I entered my first competition this past September. It was the Topsfield Fair. They went by BJCP rules, and I think I paid 5 bucks per entry. I brew extract for now, and my Bavarian Hef (which was nice but a little past its prime) finished 3rd and won a white ribbon in the Hefeweizen category. The more valuable part of it was that I got real honest criticism of my beers. Another option you can do is bring them to a local brewery. I have a guy who comes in every few weeks and we sample his beers and talk shop about them. In return we try and pour him something special that the brewers are doin.
Long story short, enter all the comps you can, its awesome feedback and hey! you might win something
The first competition one of my friends entered was the Patriot Homebrew Competition last year. He won, and this whole season he was drinking his IPA at Gillette!
