I'm originally from NM and skied Taos quite often, and I competed in the comp about 4 years ago. You can see me here in the Jr Men, my name is Austin Prince (
http://www.skitaos.org/freeride/results2008.php). I was pretty fucking stoked to place 6th after the 3 heats.
Pretty much depends on the snowfall though. When Taos has good snowfall it's awesome and their are so many huge lines. That being said Taos doesn't always have the best snowfall, so I would be careful about that.
Competition wise, the 2nd heat/day is definitely the day where you gotta huck. The face is steep/short with lots of huge cliffs, it definitely gets the crowd going and some crazy shit always goes down. The third day you have to hike A TON. At least once for your practice run and once for your actual run. I remember pretty much running up my 2nd time so I could make my start time and just being so dead at the top.
If you have any other questions let me know. I can show you on a trail map where the three heats will be taking place.