Our society tends to shy away from longest drive, as it rules too many older players out of the equation - we go for a nearest the pin in three on a shortish par 5, which gives most a chance.
All of these "target prizes" are flawed in their own way - eg Nearest the Pin on a 165 yard hole, some players are using a hybrid and others a 7 iron! In some ways they should make the likes of Creo happy as they unashamedly reward the best shot, no handicaps to worry about!
By putting the LD on a relatively tight hole (at least sometimes, variety is the spice of golf) you can bring everyone into the equation - I'm a short hitter and I've won one with a drive of about 220yds, my Dad (who never gets it beyond 200) has won one - we even had one occasion when our shortest hitter won it with a 4-iron, he was the only man to land it on the fairway!
We don't normally have an NP3 but we did on tour last year - I was gutted to be pin high but just off the green, though chuffed to chip in for the birdie
As to balls - I'd go for a good quality 2-piece like an NXT as Kenny recommends, or even a low-spin 3-piece like a TM Burner TP.