Having won a contest for unsigned bands myself (Scion put it on), I can say that winning things like these can be fun and advantageous as far as building relationships with key people, but it can also give you a warped view of why you make music in the first place. The people in the business of selling music all seem to have lost the soul of it completely. If you sell music, it is a product like any other, and any extraneous variables (like whether or not you actually like the music you're selling) are completely unimportant, and can actually get in the way of your job. It's sad to be around these people.
Ex studio hound & touring musician, current CompSci/Psych major