Chad, you are crazy. Every time the world seems stable, you manage to come up with some great ambitious idea to disrupt it. What you're brainstorming is a ton of work, but if comes through, it could be amazing. The community could really benefit from something like this, in a multitude of ways. (Namely, finally having a commercial game that isn't a piece of shit.) I'm especially glad that you wish to release whatever code you may develop for use by others. Never failing to give back. <grin>
Among other budding projects on the horizon is Syrian Sands, a historical roleplaying MUD based on Middle-Eastern culture, for any enthusiasts in that area. They're still in the early stages of building and development, but the head admin's a particularly good friend and acquaintance of mine, so it should be interesting to see where things go.
Sometimes it would rock if there were more than 24 hours in a day.
Concerning Shadows of Isildur: I'm technically back, though feeling a little boggled about where to jump in again. It's a strange feeling when you've gone for so long without doing a whole lot of stuff. Lots to catch up on.