Jamesdak, I'm in no way an expert on the ride/race, but I have done it the last two years. I'm not a racer, so I entered in the "FUN RIDE" category. I don't have a lot of advice other than to prepare for the ride by doing lots of climbing as you have to go over three very big mountains in the first 100 miles. The second 100 is more rolling hills and winds. When riding, stay with other riders and ride in packs and draft as long as possible. Eat and drink a little something every 30 minutes.
My first year I finished in 11 hours 30 minutes, my second year I finished in 10 hours and 20 minutes. This year, we hope to finish in under 10. I wrote a little blog on my experience the first year I did it.
http://veloduke.wordpress.com/ The second year was a little easier, because I knew more what to expect, and I was in better shape.
Good Luck