I will choose the top 3 on Aug 5th, I will post the critiques of them on the 6th and I will release the final on the 7th. Prize will be a signature of your choosing, .psd format if you want.
Everything else is up to you... take a break from the signature stress, then get cracking on this sucker! Look forward to seeing the submissions.
P.S. The tutorial for the signature I made is forthcoming as soon as I get home.