Hi Flexi, have you been to an employee motivation course ?
I'd certainly appreciate to have my presets distributed - certainly a good feeling to see others benefit from all this work.
As to the contest, why not, but I would recommend not to mix up shader versions. Should have categories ps1-3. While a ps3 preset may not necessarily be more impressive than ps1, I feel it would be unfair to those authors with only ps1 capabilites to compare like for like. ps3 just offers a hell lot more possibilities.
If ps1 presets should be a requirement - count me out. I am not into retro style, and just find it plainly boring to write code for obsolete hardware. There are already plenty of excellent ps1 presets out there and I feel no need to contribute any more.