Okay, let's say I published my setting myself. I keep costs down and manage to produce it for a retail price of $20.00 a copy. Now how many copies will I have to sell to make $120,000.00 ?
Wrong.
At wholesale I'd be charging about 8 bucks. Of which I'd get maybe 2 dollars after paying off all the bills. So I'd have to sell 60,000 copies to make $120,000.00. Now, how many small RPG publishers do you think have actually sold that many books? How many small RPG publishers do you think have actually sold that many setting books?
Now make it an officially licensed DnD setting book. Which may increase sales, but it would certainly add to the cost of production.
Unless you either get real lucky, or it catches on with the gaming public, you're not going to get $120,000 for a self published setting. Besides, this is an opportunity to get your name before WotC. Even if you don't 'win', a professional submission will certainly improve your chances of winning free lance contracts with them.
As for 111 pages being hard. Keeping it to something like 600 words a page (single spaced) that gives you around 66,600 words to write. Plus you need to be creative, communicate clearly, and write professionally. My advice to everybody out there is; don't wait until you get word back about your submission, go ahead and write that 10 page proposal and 100 page bible. Your submission passes muster you'll have them ready to send in. It doesn't you'll have a setting written up you can use in your own game, and possibly get published by a third party or publish yourself.
(Don't you hate it when you don't have a closing for an essay?)
That's my posting for now. More to come as others post and I think of things to say.