I was one of the 4 finalists from AngelHack Silicon Valley in fall 2012 and I just gotta say, it was awesome! The AngelHack hackathon had a great focus on building (not as much biz/dev/designer)
It's an opportunity that keeps giving. I don't think I would have been able to get a tour at Facebook and network with a lot of people had it not been for winning/attending AngelHack.
Being from the bay area it's easy to forget how much opportunities there are here in respect to other cities. I can't really think of many opportunities that enable builders from around the world to come to the bay area and pitch their ideas to VCs and see what life is like here (they get flown out here for free if they win their city hackathon).
AngelHack++