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I understand that drivers for long drive championships have some significant differences with "regular" ones. Am I right? If so, what are the main differences?

very very stiff and long shafts. low lofts

They have to be USGA legal now, so there really is no difference from anything you can play yourself during a tournament. The days of guys hitting 50"+ shafts during the long drive competitions are over.

how long does a shaft have to be to be illegal?

More than 48 inches (1,219.2 mm) long. Only putters may legally exceed that length (Rules of Golf, Appendix II, c).

All clubs must be at least 18 inches (457.2 mm) long.

Everyone here is spot on... Very Stiff Shafts (XX-Flex to XXXX-Flex) and low lofts 4* to 7* with the limit in lenght being 48" USGA measurements.

There is no difference in the heads you hit and the heads they hit. I have hand picked heads (from my inventory) for LD's that use that head to go to the finals.

Bang has a great lineup in the LD department with the BOM and Storm. I'm wiling to bet that one if not both of them will be seen in the finals this year.

This is correct.

and to add that heads we use in LD competition is the same ones we sell to our customers.