I entered a Sketchaholic contest in September for a bit of fun and won the most votes. These things are good to keep you sketching.
I did use an image from The Sketchbook Project for this competition (Little Red Riding Hood) but the next competition (Create an awesome panda fairy) I created the illustration for the competition. It is a beautiful bear who wants to fly. Feel free join up yourself. http://www.sketchoholic.com/index.php
Winners are promoted on their Winners Page but be warned: the numbers are bit out of whack and it looks like for now there is little parcipation and voting.
In reality if you have a few friends willing to vote you would most likely win (which I didn't do). I would say use this one just as a promt for portfolio ideas and getting another illustration or painting into cyber space.