If you can have fun for 5 games straight (possibly more if you reach the finals) then you're ready. Also you need to have enough money to chip in for gas... but that's about it.

I judged by how well i did on tourney's this year like it got 2nd on 20 something winter kit tourney then i got 2 top 4s at store championships because i wanted to know that i could at least compete and not just get smashed. Mainly because the store is not close about 2 hour drive and getting hotel room.

I signed up for World's last year after starting to play in late March. I didn't go in with the intention of winning it all. I just wanted to get some experience playing against other people and seeing the lists that no one in my small community was playing. I learned a ton and had a blast even though I went 2-6. It was an amazing experience that definitely got me hooked on doing tournaments.