In reply to notaclue:
I have had enough qualifying points to enter the lottery for the last 3 years, but have always been put off by the hype. This year however I will enter the lottery, as I have come to the conclusion that it's a race I should try at least once, before making up my mind about it.
As an aside, I was at the Grand Raid de Pyrenees last week (supporting a friend). It's a very similar race at the the same type of year and often referred to as a high quality alternative to the UTMB.
I have not stayed in Chamonix during UTMB, but know from other visits that the camp sites are alright. Argentiere is quieter place, as Iain has said. I personally like a bit of comfort, especially after an ultra, so I would avoid camping. Some years ago I stayed at the gite in Argentiere which was very good. If budget is an issue, than maybe camping for some time before the race and a hotel the night after is a good compromise.