Very nice bloom!
As for showing it, it's worth a chance, right? An opinion is merely an opinion, you can take the same plant and try everywhere else, and get many different opinions. I personally like yours, and many of the Paph. spicerianum I see are not as well shaped!
I do not show orchids (can't take the rejection of a plant ), but comparing it to a select Paph. spicerianum I purchased (OZ origin), some of the criteria for this species might be:
Wider petals, more "in-line", but still retains waviness
Dorsal very large and somewhat flat, with a good shaped "nun's cap"
Staminodial shield is not crooked and well formed
Labellum is of good size, wider pouch is good, also aligned with the staminodial shield
Colors and striations are also important, the vibrant greens and colorful browns/reds are definitely good
How the flower is borne is another thing. If it's upside down or cocked, then maybe a lesser chance for an award.
The plant itself should be in good shape, the more growths, the better chance to pick up at least one of those CCM/AOS (is that what I'm thinking of?)
Again, it's all a matter of opinion. If one of my Paph. vietnamense were to be displayed in a local show (with AOS judges), I may be offered an AOS award (doubtful) or at least some local society awards since it is a fairly new species to be displayed. The flower may be of a non-select plant, just a typical washed out bloom for the species... it's just the "fad" for the time being. It will be comparable when some of these new Phrag. kovachii start blooming. No matter what the shape or coloration is, they are definitely going to get some mad awards and comments. 10 years from now, it will be more competitive, similar to Phrag. besseae and getting an award for it.
In the end, it's all fun. People look for different qualities in orchids, and may have a different opinion for what that species should look like. I personally enjoy the more "natural" forms of Paphiopedilum species, and occasionally jump for a very select plant. In Pleurothallids, (except for Masdevallia and segregates and Dracula), there really aren't that many discriminating factors between plants of the same species, as typically they are all nearly identical within a species (except for color ranges).
Okie, enough rambling, it's definitely a great bloom and definitely worth showing! Do you have a pic of this season's blooming?