If your toe is healing properly and won't be a factor - go for it!!! And don't worry about finishing last - odds are that you won't, but someone has to and it's better than not even trying. Really, we need to keep in mind that these sorts of things are about beating the clock (if you must "beat" something) and not the other participants. I haven't done anything longer than a 5K in a race environment and 11K on my own - so I can't give you any other pointers.
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