The fact that there are no prizes after each competition has been stated in an earlier post, but what about other gains?
The two I can think of are items dropped by an opponent, either due to disarm or otherwise, and experance.
If one character is disarmed, and the other character picks up the weapon and kills them with it, would they get to keep the weapon after?
Or, after the first two battles or so, would there be any chance of a level? The normal encounter levels and such for experance don't apply here because it is only one character, who is facing an opponent who is, by the numbers at least, their equal in every way.