Charlie,
I fish for enjoyment.
I enjoy competing however at the end of the day I get all too few opportunities to fish relative to my 'investment' and whilst I will always enter any competition if I am out that day including paying an entry, and fish to it's rules, at the end of the day I will stay catching tope if I am enjoying it even if it's a species hunt and I have caught my limit!
48hrs was a good example - whilst the route we took gave us a real chance there was a significanly better plan available. On balance we felt it offered less fun so went as we did - and really enjoyed it but didn't figure in the prizes.
Same with the bream comp - we gave it a go but didn't spend 7hrs chasing the blighters!
Given the numbers of anglers able to fish relatively frequently it is surprising that you can't get 10 entries when the weather is nice (I wasn't on the water btw) however I am not sure it's down to the format every time.
Finaly I have every admiration for the species format - without doubt it enables the better fishermen to shine and, as Mike says, levels the boats significantly.
Duncan