It's hard to know for sure, but the opinion I've heard most often from program directors is that the regular match will likely increase competition for spots for 2 reasons--1: you'll pick up some people who "discover" ENT late in 3rd year and who still have time to apply, and 2: co-applying to general surgery is a lot more difficult, and the ENT application group will therefore be more highly self-selected. In theory, I guess you could still co-apply in general surgery, but I think the interviews would start to conflict.
I would totally agree with chirurgino. I kept hearing from PD and Chairs that this year's class was the most competitive. I thought that they were just blowing smoke up my rear end but for the reasons chirurgino has stated, I think it has gotten slightly more competitive.
More competitive also because there will be a little more time for SubI's and research. A few extra months can certainly sweeten a CV, especially for a med student who only decided on ENT within the last year or two.