I really enjoy fishing with ultra light equipment. Every fish puts up a fight and I am more accurate with it than I will ever be with a baitcaster. I am joining a club though and I was wondering if there is a place for ultra light tackle in tournament fishing?

If I'm fishing for money , no way. Just my opinion.

If Im just fishing it's pretty intense to pull a good one in on light tackle :

i used to use ultra light for everything, but i dont fish tourneys, and i wouldnt try it because i like fishing big baits like bulky jigs

Big fish can be landed on ultra light equipment in open water. Which means, it might be possible for you to boat a few on stucture, but you will never land a decent fish in cover. Without the ability to "move" a fish, they usually seek shelter and you will lose ALL of your best fish.

http://bassresource.com/fishing/light_line.html