The two people in the photo make for a more interesting picture I think. I would have liked it if they were more at the peak of the wave rather then the bottom but it\'s not too big of a deal. Good action here... I might have cropped some off the top, but I kind of like it how you have it.
Thae photograph shows lots of action and coveys both the idea of competition and the power of the water well. There are a few little hotspots, but I don't see how they could have been avoided under the circumstances.
Looks like you got the same vantage point as I did! I was just about 20 miles farther north. :) Nice shot. Like the effect of the late afternoon sun - though it did cause the surfers to be a bit dark. I was having similar trouble, and was able to use the Curves in PS to fix the results. If you're interested in the web site I used as a tutorial for this process, send me a message.
One other thought: I think two things might have improved the composition - cut off the top 10% or so of the shot where its just wash - that's just visual noise that doesn't contribute to the "motion" of the image, which comes in part with the crest of the wave that starts below that. Second, and for similar reasons, I think a landscape format would have worked a little better. As captured/cropped, the movement of the surfers and wave feel a little constrained by being so close to the edge of the image.