Yes. Go go go.
Some important things (some of which have been mentioned already);
1) there needs to be a defined, definite leader in all this who can delegate when needed and can call the shots. Getting input from lots of folks is a great idea, but there needs to be one captain.
2) I, personally, have never like a battle of the bands format or 'best of' things. This is art. I suppose there could be a 'song of the day/week/month' thing, but 'better,best' designations make me uncomfortable.
3) Catagories. No one likes to be pigeonholed. There is not a player I know who describes his/her music in a single box. As the big boy lables have done this to death, and this enterprise is antidote of sorts, great care might be used in definitions.
I realize it's sort of shitty to point out a problem and offer no solution, but I don't have one.
If there is anything I can do to help, count me in.