According to the Tournament Monk Announcer the number of fighters that entered this Tournament are 72.
In the crowd, you can see Yajirobe also entered the Martial Arts Tournament.
Original Air Date: November 16th, 1988
Japanese Title: The Stormy World Championship Martial Arts Tournament
Blue Water Dub Title: The Tournament Begins
The title Preliminary Peril was already used on episode #85 of Dragon Ball.