Because this went over well in the Budget competition, and there is apparently some concern, allow me to elucidate the contestants on what I am looking for as a judge, by category.

Originality: Have I seen it before? Do you do something unique with the ingredient?
Power: How does it fare with a Wizard (Tier 1) as a team member? A Rogue (Tier 3-4)? A Sword and Board Fighter (Tier 5)?
Elegance: Does it flow well, and by that I mean, do all the bits mesh into a seamless whole nicely, or are there things in there that don't DO anything? You are offering me something to judge, everything better work towards your stated goal. You WILL lose points here if you don't tell me what's going on. Entries that are just a stat block get a maximum of 3 points from me here. Gotta give me a story, some tactics, something descriptive here.
Use of Secret Ingredient: Do you take it all the way? If not, is there an AMAZING reason why? Others I guarantee will, so you better either do so, or have a great reason why you're not. It's the Secret Ingredient, it better be prominently present.