That competition aspect sounds fun. Part of my problem with bow hunting is that I enjoy shooting so much. It's one of the main ways I relax. So when I have a big critter at 20 yards and the adrenaline's pumping and the pressure's on, I tend to react badly. A little fun competition might be good prep for that.
I agree with hawk--physical conditioning is a huge factor in elk hunting, if you want to enjoy it rather than just survive it. Just the hunting is hard enough work. Packing out the meat and hide can be brutal! Walk or jog lots and lots of steep hills, preferable with a pack. The great thing is that elk simply don't live in ugly places. If there's anything better than being alone in elk country with a wooden bow in hand, I don't know what it is.
Good luck, boys! Maybe this will be your year!
T