Does it hurt your chances if you submit early?

It won't be an issue for the initial three judges.

And:

• If you submit early you can get feedback adn update, right?
• If you submit later you get WOW factor, right?
  

I would think that if what you submit is a complete work (as in a WB, all items skinned and all features available included) that it wouldn't make a difference.

A skin showing the talent of the submitting skinner to come up with a new look or new options or use of functions is always going to catch the eye of the judges.  It won't make a difference if you submit early or at the deadline.   Well, at least that's my opinion.

I'd say no.

No it but sure does make you fashionably late...

Submit early! (that way you have time to make another...)

Submitting early does nothing to help or hurt your chances of winning.  What it does do is free you up to work on other entries for the competition