Steve,
I think you should compete.
It sounds like you need "a goal" to re-motivate you.
Regardless of all the hate MPD takes, the competitors still have to get
their BF levels very low, have good shape and good muscularity.
I've judged several competitors who shave their head.
It's very common these days. Plus you will look younger if it's
shaved as opposed to thinning.
The poses are pre-determined so no worries on that and I have
never seen any MPD dudes wearing makeup.
A shaved head will not be viewed as distracting.
A beard will, even at a local NPC show.
Good luck and remember......it's all about doing the best with what you have.
-MT