BBG, Good overview of a strongman competition. The only change I would make is the starting weights to compete. I've seen novice contests with weights on the axle clean and press as low as 185, and deadlifts (as important as they are) only make up a small amount of contest events. As long as you have a background in heavy gym training, and prepare yourself to the best of your abilities, you should be ok. Competing (even if you bomb out on all your events) has such a huge upside to training knowledge and learning strongman that you could chalk up the $50 to a down payment on your strongman future. Don't wait until you think you can win to compete. Prepare, compete, and prepare some more. I've learned so much from competing that you can't learn in the gym. I'm working on my deads, but I still can't pull over 400 and I'm pretty competitive.
Just my opinion.