I find the translation contests an interesting opportunity to switch from the technical translations, which is my daily routine, to a completely different content. It is also an exciting experience, because the texts are not at all as easy to translate as they seem at first sight. Although short in size, they can be tricky and take a bit of doing! It is definitely worth it, though, since on the way I often come across new phraseology, idioms, phrasal verbs, which might come in handy, and usually even learn something interesting. Also, for me it is valuable to get objective feedback from people who do not know me and have no reason to be merciful J. For me it is more about learning than competing. So, all in all, why not to try.
