Chris Brandt has run that event for a long time and does a great job with it. He brings a fully modular set-up for building tracks so you end up with a different track every time and you have little idea what you will be racing on before you sit down to race.
After four qualifying heats and a final race, a PrezCon champion will be crowned. This is also the first in-person qualified Organized Play tournament of the current season. So the winner of the event will likely make a move in the OP rankings.
I sadly will not be able to make it to PrezCon this winter but enjoyed my past visit and highly recommend Chris' event and the con in general.