I'm thinking tentatively that the DC Tournament will be held on August 11th, Saturday, at 1pm Eastern Time.
It will be Texas Hold 'Em, probably "pot limit".
Obviously there will be no real money involved. Everyone will start with 20,000 chips. It costs nothing to enter so why not?
At the end of the tournament the winner will get some real world prize: A custom DC mug or shirt designating them as the winner of the 1st annual DC Poker Tournament, and maybe some bonus prizes (some board games?) -- and of course, bragging rights.
I think we should try to link to a few tutorials and places people can learn how to play. You don't want your first time learning how to play to be in the tournament.
Maybe what we can do is run some practice tournaments on Saturdays at 1pm EST leading up to the real one, so people can get the hang of how the client works, and so we can work out any hiccups.
Install the client from www.pokerstars.net and join the DonationCoder club by following the instructions stephen provides below, and practice getting used to the client. Use your donationcoder member name (or dcMEMBERNAME) so we can recognize each other.