I did it back in October. I was never really a great runner but I also train pretty hard, and finished 307 out of about 6000 (
http://www.warriordash.com/documents/WDMidAtlanticOASaturday.pdf).
If you're going to do it for time, make sure you get in the beginning of your heat and get off to a fast start, even if it hurts you a little later. Waiting for people to clear obstacles sucks. Also, do it early in the day before the course gets muddy and harder to run.
Lots of hot girls, lots of fun. It is a lot harder than it looks. I can run a pretty fast road 5k without a whole lot of effort, but this has alot of crappy terrain to run through and some of the obstacles are draining. There was a "breathless bog" near the end which killed me, the water was so cold that it like shocked my legs and I could barely run the rest of the way.
Overall, I highly recommend.