Well, it doesn't apply to me, but notice the winner gets a deal with Penguin and the nine runners up get self-publishing packages through Booksurge (which Amazon owns).
I have yet to see external commentary on the contest, but I think that will raise a few eyebrows.
I can see how that might be a red flag, Sandra, but I don't think the runners up are in any way obligated to take the self-publishing package. The first prize alone is worth taking a shot; and, even if a writer passes on the Booksurge deal, I think being a finalist would look mighty good on a query letter. Plus, if I remember correctly, the top 100 entries get a review from PW. If my manuscript wasn't already on submission, I would enter in a heartbeat.
Not me, Jon. I just thought it might be a good opportunity for some of the unagented writers here. It sounds like a legit contest to me, although, like Sandra, I haven't seen any external commentary.
The St. Martin's contest is great, and I noticed they added "First Crime Novel" to the First Traditional Mystery and First PI Novel categories. Very cool.