Glad to know, but now you're revealing yourself. Shame on you!
Definitely not. Different thing, though. As a contestant, you have the thrilling: "Would it work? Would they like it?" ... and the concentration too: "Damn'it there should be something somewhere that allow me to..."
As a judge, you trade it all in exchange for the surprise, the xmas-eve-like wait and for the bittersweet duty of rating. As I said in advance, I really hoped that my favourites wouldn't screw it up and sadly a couple of these did.
So no: judging is really worthwhile. I'll do it whenever I can't figure it out a good idea for the challenge.
It is a death move in most of the situations. As item, it is banned by default in any game, except for the straight curse use. It is "funny" (to a sadistic DM, at least) if someone uses it thinking it is a useful tool. It is not if you use it to bring down a Great Wyrm who would be way over your reach (I guess that with 5d4 rounds of uncontested combat, you can do it).
By the way, Akal, I'll leave your avatar this way. It seemed done by purpose.