UPDATE: February 8th, 2010
It has barely been two days since we made the announcement about our 2010 plans but there is already exciting new developments to share. We are developing a relationship with two new sponsors!
Cobb Tuning, manufacturer of the COBB AccessPORT, will be providing tuning services for our 500 whp E85 burning engine. The outgoing Takata Impreza Version 1 also used the Cobb AccessPORT tuning hardware and it was very reliable for us, so I look forward to our continued relationship with Cobb!
JE Pistons, manufacturer of forged racing pistons, will be providing us with a custom set of forged pistons. JE Pistons are the preferred piston of LIC Motorsports and we are happy to extend the relationship with them
With our new partners in mind, we would like their logos to be on the car. The Cobb Tuning logo will be approximately 18" long on and placed on the sides of the car. The JE Pistons logo does not have a specific place.
With this information coming in after the start of our contest, you are not required to use these logos in your submission, but it is appreciated. You can find both logos in my Storefront.
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Update: February 10, 2010
I have spent hours today
answering questions via email, PM, Xbox Live, and forum posts. Please
do me the curtesy of reading Page 1 thoroughly; it should answer most
questions you have. If you do have questions, please ask in this
thread so everyone can benefit from the answer. Please do not send PMs
as I almost never check my PM box. Sorry to a handful of people that
have sent me PMs in the last few days; I have recently responded by PM.
I
discovered today that my friends list was full, so I had to clear some
names out. I have gifted out at least 30 livery cars with the decals
in the last 2 days. If you were missed, please send me a friend
request and I'll take care of it promptly.
Prizes!
With thanks due to Turn 10, we have some additional prizes! 1st place
receives 5 million in-game credits and all 3 unicorn cars. 2nd and 3rd
get some credits and unicorns as well. Check the OP for more info.
To address some common questions...
Metallic/Chrome Decals: Yes, you can use them.
Photo Submissions:
As mentioned in the OP, please post photos of the submission from the
garage environment, not the track. This is not a photo contest. We'll
do a photo contest later 
Harnesses: Many people have
asked if the harnesses are required; no they are not. Having the
harnesses in the livey does help people relate what product Takata
makes, but we did a great job of communicating that over the last
couple years. We could honestly go either way. Its up to you. If you
would like to incorporate the harnesses into your design but are
concern that you can't match the level of detail that other painters
have; no problem! We are judging the concept, not the fact that you
recplicated the harnesses to picture perfect accuracy. Use a green
stripe and grey circle if you have to. A professional artist will be
used to translate your design to real life, so don't sweat the details.
Locked Designs: If you have used locked decals to create
your livery submission, worry not! If you are a finalist, I will
simply ask that you remove any locked decals before gifting it to me.
From your photos I can easily add them back on.
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UPDATE: February 27th, 2010
Finalists have been announced! Check out the 10 finalists, and the other 252 entries in our latest YouTube video. The winner will be announced March 5th!
YouTube Video - Takata Time Attack 2010 Livery Contest Finalists
Takata Time AttackTwitter