My apologies if this has been answered already, but do we waive any rights to things submitted as contest entries (beyond the obvious of allowing them to be judged, etc.)? Specifically I'm wondering if I'll be able to re-use things made for this in other (including potentially profitable) projects.
Oh, oops, I forgot to mention that. No, you retain all rights to any work submitted to the contest, so you may use the work/IP for any purpose you wish after the contest. I'll make a note about that in the OP.
Edit: Added a note to the FAQ. The only thing that is required in terms of rights is for you to allow the game to be downloaded by the general public (that is, the game that you submit during the competition; if you work on the game after the competition, the updated version does not need to be made available to the general public (you may sell it, if you wish)).