I've personally enjoyed seeing to IRTC for years. I've always thought about entering, but the only real 3d stuff I've done is Hamster Havoc and DuckPins and they just sort of seem to be out of place in something like this. Although they were rendered using Animation Master which technically is a ray tracer.
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Chip Richards wrote in to say "This isn't exactly "breaking" news, but I thought I'd pass it along in case it interests you. The Internet Ray Tracing Competition, at www.irtc.org, seems to be a bit under-publicized in the non-Microsoft world. And since slashdot has quickly become one of the premiere "alternative" news sources on the net, I thought it might be appropriate to mention our modest gathering to you."