I happened across a really neat site the other day, called codegolf.com. Some of you might recall a similar scheme going on a while back called perl golf – well this is the same idea.
The deal is, there is a load of challenges set, and you have to write and submit the code to supply the required output of the challenge. However, there is one snag – you have to write it in as little code as possible. It has you really thinking laterally – outside of ways you might normally think of writing code, which I personally find fantastic (and depressing, realising how little shorthand I know!)
There is currently four languages you can submit in – PHP, Perl, Ruby and Python. Suggest that you hardcore execution-time monkies take a look at it and get scoring.