Dan S.
Crap for designers, fair for clients
If you are a self-respecting designer, save yourself the frustration and avoid this site at all costs. With no exaggeration, 99% of the time you get no feedback from the "client", or contest holder, so you waste a ton of time guessing in which direction your designs are headed. You are basically designing for pennies on the dollar if you even manage to win one or two contests. It's an insult. If you are a company looking for a mediocre (and sometimes downright awful) design for on the cheap, this site fits the bill. Occasionally, I'll see an agency-quality design, but that's maybe 2% of the logos submitted. Avoid this site if you value your company's image. You get what you pay for.

