Okay, how is this for a setup:

Two new sections are created:

• Contest Ideas
• Contests

Where Contests acts as a "front page" to Contest ideas...Any idea that is voted enough gets bumped up from Contest Ideas to Contest, just as Seekers questions can move onto the Monastery Gates.

Once the page has moved, the contest has begun. (I guess we could specify a starting date in the original idea as well as an ending date). Users can vote in the following threads until an ending date. (so each contest idea has time until start, time until end, and voting period).

hmm, this is sounding more complicated than I wanted. Maybe just a Contest area, and Someone with high enough level can edit the top level post to mention that the contest is "officially" ended when that happens. (users can, of course, continue to post).

I think I like the second idea better. Simple.