Both of these contests have steep entry fees, but I list them here because they also pay big prizes.
The first contest is The Ledge 2009 Poetry Awards Competition. I found this contest through NewPages.com, a website with all kinds of useful things for writers including contest listings and magazine reviews. (Thanks to David Stillwagon for mentioning it.) The contest is open to all styles of unpublished poetry (sim subs OK), and all entries will also be considered for The Ledge Magazine. Entry fee is $10 for the first three poems, and $3 for every poem after that. There are three prizes of $1000/$250/$100, plus publication. Deadline is April 30th, and it looks like you must submit by mail.
The other contest is the 2009 New South Fiction & Poetry Contest. Entry fee for this one is $15, either for one story or three poems. Awards in both categories will be $1000 for first place and $250 for second place, plus publication. All entrants will receive the issue of New South with the winning stories and poems. This one also only accepts snail-mail submissions, and the postmark deadline is March 4th.