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SquareSpace is really stepping it up with their advertising lately such as sponsoring great web shows and events. Now they have capitalized on two very hot trends: new iPhone 3GS (about to be released) and twitter.
I really like their product otherwise I wouldn't use/pay for it. If this gets more people to use their site, great. I hope to see some of the things others create with this tool.
I, for one, will be entering the contest.
You can read more about it here.