Thanks man, you're a star
You can also win prizes if you submit proof btw.
You can sign up here
and view the details, rules and stats of the competition here
Basically what you'll do is complete some work units on your hardware. And the faster you complete those units the more credit our team gets.
You should check out the sign up thread, it's explained how to setup the client and you can decide for yourself on what to fold and how long. Your 580 and i7 will do very well. The i7 gets a time penalty if you pause it for a long period so maybe you would be better of only using yoour 580.
Just remember to fill in the passkey, team name and team number correctly if you fold. Don't feel obliged to fold though, it's just that it would be a shame to leave that beastly rig out of the competition.
You can also ask around in the thread if you don't understand something or need help
This is also aimed at other people who are interested and read this