It's been rumored for a while but it looks like MS is finally offering prizes for gamerscore points. The contest is open to all folks with an Xbox 360 and and Xbox Live account and the deal is that you have to increase your gamerscore by 1,500 points between February 12th and April 12th. For those able to accomplish this feat they will be able to choose from one of the following prize packages.
Level 1 (Gamers who have an annual gamerscore between 0-4,999 at time of entry): Game Picture, Dashboard theme, Contra for Xbox LIVE Arcade
Level 2 (5,000-9,999 annual gamerscore): Level 1 Package, 100 Microsoft Points and a contest T-shirt
Level 3 (10,000+ annual gamerscore): Level 1 Package, 200 Microsoft Points, contest T-shirt and Fusion Frenzy 2
In addition, Old Spice will give Level 1 and 2 the gift of experience by upgrading their Rewards Level for 2007.
Not a bad deal and given that it's free and all. All you need to do is hit this site and sign up.