Hi Tom,
Welcome to the friendliest and most fun bbq site out there! Like everyone else has said, just jumping right in is the way to go. If you wait and wait for the perfect comp where you won't feel intimidated, you will never do it. What do you cook on? Are you a KCBS member? Are you familiar with the cuts of meat and what is required? That is one place to start. Make sure you understand the rules, etc....then just start practicing. We live in Havasu and are helping to promote our event in February. There will be some big rigs for sure, but there always are. There will also be some who cook out of the back of their pick-up or a mini-van. Seriously the size and expense of your smoker does not determine who has better BBQ!!
Either go for it, get your entry fee in before 12/1 to get the early bird price and you have over 3 months to perfect your craft. If you don't think you are quite ready, there are always teams who can use an extra pair of hands. Some even on this site. Come over anyway and hang out visiting with the teams that you will meet here and on CBBQA. You will find the nicest folks and feel free to ask questions...some might be over the line (secrets) but mostly everyone is eager to share with the greenhorns.
If you like beer, BBQ and a serious lack of sleep then this sport is right up your alley
BTW, the Learning Channel is airing an 8 part series starting Dec. 3rd called BBQ Pitmaster and it follows several teams across the country doing comps. They were filming in Mesquite NV when we were there in September. Anyway, that will give you some insight to the world of comp bbq.
Have fun on here and PM me anytime you want to chat!