If you're in the New York City area (or anywhere, really) -- you should participate in the GGJ 2011. I'll be at this one at NYU, but there are a lot of jam locations so there's bound to be one near you. This'll be my first jam, but it seems like it's gonna be fun.
Don't be intimidated -- the jam rules specifically say that anyone can participate... and if you don't know how to code or use any design tools, you can work with someone who does OR just make a non-digital game with some cardboard and notecards. (I'm kinda trending towards non-digital myself.)
See you there maybe!