An alternate opinion...

First off, I don't know who you are, how you sound, what region you're entering, or who you study with, so the following are meant to be sort-of general statements, not personal attacks.

-- The Met competition is NOT meant to be a chance to get your progress/level evaluated. That's what NATS is for. If you aren't entering to win, don't enter; it's wasting the judges' time. Also, this is a small world--you don't want to audition for one of the judges' programs/schools and have them remember you as the kid that did Met auditions before he was ready.
-- You should get a second opinion about entering from a teacher (other than your current teacher) who has heard you recently, and whose judgment you trust. It is very easy for a teacher to lose their frame of reference when they know how much you've improved since you started with them. Vast improvement still doesn't necessarily mean ready to do MONC auditions.
=>On a voice-type-specific-side-note--I would also ask aforementioned second teacher whether they think you should list yourself as a bass-baritone. I recently heard a young man at district MONC auditions who listed himself as a bass-baritone and was clearly just a baritone with low notes. Additionally, his rep consisted of four arias that were standard lyric baritone rep, and one bass aria. None of the obvious cross-over stuff like Figaro (Marriage of). Your repertoire should reflect what you say your voice-type is, and vice versa. Err on the side of caution. If you're just singing baritone rep, call yourself a baritone and they'll be all the more impressed by your timbre.

I hope this wasn't too offensive to anyone, and maybe it was even a little helpful. Cheers.