I see the Hutter Prize is a separate contest from Matt's contest/rules:
http://mattmahoney.net/dc/textrules.html

Time and Working Memory has no hard limit. Just the compressed result. This 
makes sense because, the compression/decompression time for outputting 1 
letter/word is ok on modern computers if it takes 3 seconds, an AGI can still 
talk to us! And it's ok if takes 64GB...AGI can still operate. Yes the lower 
the better, but on modern computers, it's feasible (at the edge in my example, 
at least for home pcs). So ya bloating those is ok, it let's us get closer to 
AGI! You'll 'feel' it hurt when you bloat the time/mem too far in your project, 
so the limit is, the participant. So only rule needed is compression result, 
and, the instinctive judgement of "hmm, the entry algorithm outputs 1 word per 
second, just fast enough, and 64GB RAM, bearable enough".

I'll give this more thought and post here but otherwise if I don't pot then it 
seems right.
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Artificial General Intelligence List: AGI
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