My daughters are preparing for AMC 10/12 this year.

2008 test days are Feb 12 and 27. These are pretty hard tests. By talent alone will probably not get the kids into next round which is AIME (American Invitational Mathematics Examination). Top 1% of AMC 10 and top 5% of AMC 12 contestants qualifies for AIME. Kids probably need some proper training to get to that level.

Art of problem solving provides excellent distance learning classes for AMC 10/12. But it is too late for this year. You have to wait until October 2008 to sign on the classes.

By the way, AMC 10/12 as well as AIME scores carry weight. These tests are much tougher than SAI 1/2 math part and colleges know that. MIT, for example, explicitly ask for your AMC/AIME score if you have one.