Some of the information you want can be found
here. It doesn't look like they have the information about the 2016 contest up yet, but I bet if you call Planet Bluegrass, you'll be able to find the information you're looking for. There is a $75 registration fee that is refundable if you pull out before March. In addition, everyone in the contest needs at least a Saturday pass to the festival, as that is when the finals take place. Those passes will go on sale along with the four days and all camping not sold via lottery in December.