Awards mean absolutely nothing. I know this because I recently sat in on the judging of an awards contest and got to see, first hand, how the people judging it know no more than I do.
That being said, it's one of those things that, if you're worth your salt, you obsess over and think about ... until you get that first one and realize how trivial it actually is.
I won four awards this year, three of which were for writing (first place in state, third place in New England, second place in the SNA contest) and one of which was a third-place finish in page design and while they look pretty on my wall and remind me that my work is recognized by someone, they don't really mean much to anyone but me.
Of course, when I send out resumes and introduce myself to prospective clients in my wedding photography side business, I make sure to introduce myself as an "award-winning journalist" but, deep down, I'm no different now than before I won any awards and I think that's pretty much the case for everyone.