I never entered the short story contest but I entered the regular writing competition (73rd Annual) and they told us in very small print on the entry form when everyone would be notified. I didn't do too bad, I placed 5th in the Children's Literature category and got a fair amount of stuff: A check, free year subscription to the magazine, free Writer's Market book and the online version too, a certificate and letter with my placement etc.
Then they announced all the winners in the Writer's Digest magazine. There is a LOT of competition, they told me there were almost 18,000 entries and I placed 5th! I was absolutely in shock when I got the letter.
It came at the right time too. I was just about to throw in the towel and give up on my dream as a writer. That was the shot of confidence I needed to keep going.
Good luck!