Well while you can compete with a standard 20" A2 upper, you wont be competitive (doesn't mean you can't have fun).
Many shooters will use the "DCM" uppers you see for sale. These differ from most standard A2 uppers in several areas. They will usually have 1-8 twist Stainless steel heavy competition profile barrels (1" diameter under the handguard, but .75 milspec HBAR diameter where visible. They will have the 1/4x1/4 or 1/2x1/2 MOA adjustble rear sight assembly with muchsmaller apertures, sometimes hooded. they will have single or 2 stage competition triggers of at least 4.5 lbs combined pull, free floating ODCMP approved handguards, and other touches that aren't visible externally.
I just bought an Armalite DCM upper to compete with. Check out [url]www.compasslake.com[/url] they have very good DCM rifles and components. they also will modify your existing rifle or sell just the upper. not cheap but among the best. I paid $375 for my Armalite upper (used) at a gun show. It has all the features I listed above. the stainless barrel takes some getting used to, but it is better for this type of shooting. Bushmaster anodizes their Stainless barrels black on their DCM rifles.
Again, you can compete with a standard A2 profile, but the sights alone will limit your accuracy. The .36 aperture 1/4 MOA sight will force you to shoot more accurately, all other things being equal.
Bushmaster, Armalite and RRA all make DCM rifles out of the box, as do many other custom manufacturers such as georgia precision, Compass lake, etc.