I did this one last year and enjoyed it so much that I'm signing up again for the 2010 version. I found it to be a great way to nudge myself into filling in some of those huge gaps in my experience of modern American literature.
The Battle of the Prizes Challenge (American Version) is once again being hosted by Rose City Reader, and runs from February 1, 2010 to January 31, 2011. The challenge pits the winners of the Pulitzer Prize for fiction against the winners of the National Book Award (but in a nonviolent way, of course). You can read all about it, and find links to book lists, on the challenge announcement page here.
Since I'm not really drawn to any of the "double-dipper" winners (other than the ones I've already read), I'll most likely be choosing the option of reading two books from each list, for a total of four books. I haven't decided yet which books I'll read this time around, but I've got a list of possibilities on my challenge blog. I'll also be updating my progress there, during the year.
Now I just have to decide if I dare sign up for Rose City Reader's Battle of the Prizes Challenge, British Version!