Prior to 2010, the Challenge was known as the 30 day Challenge. Participants had 30 days to try out all the ideas and and new software available. I have participated in 2008 and 2009, but I never finished the entire Challenge.
This year the format changed. They changed the teaching and action steps to 30 minutes a day. One week on and one week off. I finished the entire Challenge of seven modules over three months. I did a market analysis, investigated key words, set up a blog, signed up for affiliates and adds and learned about market leadership.
This course is worth hundreds of dollars and they give it away for free. They are really great about helping newbies and the training is still available and will remain up for months.
If this is something that might interest you, I suggest you check out this course. You will be surprised at how much you learn.