I am taking part in the second hubpage challenge. This one is more flexible - you start when you want, and you complete 30 hubs in 30 days.
I started yesterday and have built four hubs so far - see my hub on Making money with the Hubpages Challenge, for progress on this challenge.
It will be interesting to see how I progress as I know so much more than when I did the last challenge. Last time it took me 80 days to make 30 hubs, and 78 days to break earnings of $50 from these 30 hubs.
Am looking to both complete the challenge much sooner and to earn much more. We'll see. It's all good fun!
Am also trying to be more organised this time - am keeping a spreadsheet on OpenOffice to track when I've made hubs, when backlinks are added, what position they are in the SERPs, when I update the hubs (to check if keeping content fresh makes a difference). I figure you can only learn what works through trial and error and analysing your own work (and mistakes).