I have played in the tournament at the Taj a lot. It is a decent, low stakes, tournament. It usually draws about 120 players and generally pays the final table and sometimes a little more.

In the tourny, you'll get 5000 chips to start. The blinds begin at 25/50 and double every 20 minutes. The antes start at level 3 (100/200 + 25), and the antes increase by 25 with each blind level. Thus, from level 3 on, virtually the entire field is relatively shortstacked.

The competition is average to above-average. It seems like a lot of regulars play in the tourny, but having said that, I've played against much tougher tournament fields than this game will draw.

As an alternative to the Taj, you might consider the daily tournament at Showboat. It costs $50 to play, you get 5000 chips, the blinds start at 25/50, and they double every twenty minutes. There are never any antes. The field is among the weaker that you will find.

Finally, although I have not played in one yet, the Borgata offers a daily $100 tourny. The benefit of playing there is that the Borgata's new poker room has 85 tables, and so you can easily move into a good cash game if you bust out.