The official site has posted a fairly comprehensive FAQ to go along with tonight's inaugural automated tournament event. Answering questions about the prizes and technical issues, it's a good read for those participating in the ATS:

Q. When does the May period of the $100,000 Guild Wars Tournament Series begin?

A. The first tournament in which you can start earning Qualifier Points (QP) for the May championship begins at 00:00 GMT Wednesday, May 9, 2007 (midnight between Tuesday and Wednesday).

Q Ps earned during the recent testing will be erased from all accounts before the end of this GvG tournament.

The first 1v1 tournament of the May season will begin at 04:00 GMT Wednesday, May 9, 2007.

Q. What are the prizes for the May season of the $100,000 Tournament Series?

A. We'll list the specific prizes soon, so stay tuned!

Q: Where do I get tournament tokens?

A: Spend Balthazar faction with the NPC named Tolkano [Tournament]. You can find him at your guild hall, the Great Temple of Balthazar, or in the Hero Battle outpost.

Q: How many rounds of Swiss competition are in each tournament?

A: This depends on the number people/guilds playing. 8 participants equals 3 rounds, 9-16 participants equals 4 rounds, 17-32 participants equals 5 rounds, and 33-64 participants equals 6 rounds.

Q: How long are the tournaments?

A: The tournaments last up to 15 minutes per round for 1v1, and up to 40 minutes per round for GvG.