Hi Jordan,
In my opinion, any competition is fair game if it fulfills two requirements
1. you’re willing to get there (and can afford to do so)
2. the repertoire is the right level and you don’t hate it
The length of preparation depends on how much repertoire. I learned 3 pieces for a competition and it took 1 year to get them to the right level. I think it may be a little late to start on any summer 2010 competitions if you don’t already know some of the repertoire, so 2011 may be a good idea. I recommend beginning the pieces as soon as they are released.
~Sam