That is a really neat idea, DJ! Most contests focus on just getting something done, but a large part of programming is optimisation. I think Runer or Weregoose would win for sure 
I remember in 2005 there was some sort of mini contest thing as a sub-part of a topic where we posted a small piece of code that was like 40 bytes and I ended up winning. Two years later or so, or maybe today, I'm sure I would have been last, because of how much was discovered since then
