Your vote still has value when it's added to a post or comment that will be above the "dust vote" level. Really as a newer member with a small vote it's best used on posts as a few small votes like yours will equal a penny.
As for entering the contest, there are plenty of others that are your level that have entered. Don't ever let your lack of experience stop you from trying something. Worst case you fail and have to try again, but this is how you grow and learn. You can't get better at something without actually doing it. This contest doesn't judge based on your reputation score or voting power, purely on the quality of the blog posts you feature as part of your entry.
Thanks for your information regarding the voting. It is nice to know that ultimately somewhere the non value votes have some credibilty..hehe..
The second part inspiring me a lot. You are true..I should start some where as there is no replacement of experience. Only those who try will learn things. Thank You and will see you in your comment section.