1) its only a 5 star WQS event and not a WCT event so nobody expects epic conditions at such an event - unlike the 'CT ones.
2) its geared for maximum number of people to see it live rather than to get best waves possible. Its bassically an advert for Rip Curl - pretty good one really.
3) yes it can go off at Fisties in summer, an even in these waves De Souza is still getting 10 point rides so...
4) if you've been watching on the webcast, you may have noticed Lee Bartlet and Sam Lamiroy saying that really Fisties isn't even the best beach for waves, Croyde for one is probably a better bet. Its held there due to it being the best location for the best possible 'spectacle' with all the other stuff going on like the Manwash, skate ramp, Radio 1 gigs in the clubs, bikini contests, etc etc. Nowhere else is big enough that does get reasonable surf that could hold such an event which attracts so many people. The local businesses make so much money and there are so many of them that they can afford to pay the required money to hold the event there.