My wife and I did a shop hop in 2008 when we first really started getting into quilting. We hit 17 shops in 9 days, I think. Of course we didn't win the grand prize, but it was a nice way to spend some time together and tour East TN.
We got 17 star patterns (still haven't made that quilt) and purchased a lot of fabric to start our stash. We saw a lot of shops that we didn't know existed and figured out which ones were our favorites that we would return to. We bought some rulers, patterns, and other tools as well.
The shop hop is a great way to see a bunch of shops in a short time, but the temptation to spend is strong. I would definitely recommend setting your budget before you begin.
Have fun.
Darren