Here are some more articles on the plans of the X PRIZE Foundation. One article from a member of the New America Foundation (also available from the L.A. Times) mentions capturing the ups and downs of the competitors as they try to win the prize to help glamorize the competition. The article does seem to downplay the importance of space prizes compared to prizes in other areas, but that seems to be a common point of view.
Another article from the Chronicles of Philanthropy reveals that the X PRIZE Foundation has already built up $17 million out of the $50 million that is its goal in the campaign that will be kicked off at Google Headquarters this month. Tom Vander Ark has an interesting answer to a question about whether or not he would take a commercial space ride if he had the chance.