For those who aren't aware of the magazine, OTP is sort of a poorman's version of the WOTF. The prizes are respectable (1st place $180) and with prizes going to the 2nd and 3rd place (with also respectable monetary amounts). They even will award honorable mentioned prizes for one to three stories, which is are a nice $40 a piece.

Judging the contest was a treat. I was given 11 stories to look at. The two editors serve as slush readers then pass them to a panel of 8 (I think). What I found surprising about the finalist was how different they were in style. I can't say that any two were alike in plot or approach, although all stories had to follow the premise of the quarter (the premises are very loose.)

I found the experience enlightlening. Not only because of the stories that beat out 180 or so submissions, but of how spread out the opinions were from the judges.
Judges were given 4 choices on how to grade the entries. Yes, no, maybe, and one reserved for favorite. Because the choice was 'favorite' instead of 'best' my choice influenced the winner.

Their were two stories that stood out above the rest. My favorite was chosen as a favorite by two other judges, but it had an equal number of 'no's. The story received an honorable mention. It was a humorous story (very funny) which likely leant to the no votes. Humor can be subjective, and some people just get pissed when someone dares to try and make them laugh.
The one I thought was the best got second. I feel bad that it did because, in my opinion, it was outstanding.

So, if any of you get the opportunity to judge a contest like OTP, I recommend you give it a shot.