There has been alot of threads talking about the new stv rewards with links or pics but none really talked about the northrend one.. Like oni said the rewards were merged so there is no longer the shark one and so we can no longer get kalu'ak rep. 3 winners per realm so theres a good chance you will get 2nd or 3rd. Just look up 5.1 fishing contest if you wanna read more
There is a WoW fishing website called El's Extreme Angling. It has a pretty good breakdown on the contest. I won two BoA rings since it came back but I think the secret is out. I see way more people fishing recently.
Unless you are CRZ with a PvP server CRZ won't matter much except for some pool stealing. It's 3 winners per realm so as long as your realm is dead there can be 15 other winners CRZ with you before your realm gets a winner
Don't forget to set your hearth to BB. I won it by 5 secs last week.