I like there to be a single descriptive sentence of what I'm looking at. We're not professional judges in a professional photographer's competition. We're shooters who like looking at pictures of guns and when I look at a picture of a gun, I like to know what it is. No accompanying storyline, no fluff. Just a description of what the picture depicts. I think all the nit-picking about text is taking away from the "spirit of the game". This shouldn't be taken too seriously and we shouldn't go out of our way to take the fun out of it.
I also agree that the picture should be contained within the post. I, for one, will rarely click on a link or attachment to see what it is. In the photo contest, I'll just browse right past it.
PS, you don't need a fancy camera to take a good picture. Most of mine were taken with a 12yr old Olympus 1.2MP camera. The biggest thing is proper lighting and I prefer natural settings, such as early morning or late day in overcast weather and no flash. The one I posted for July was taken with a Canon Rebel SLR but it's a rarity and I'm far from a professional.