On the topic of podcasts, I think a 'podcast-esque thing' related to the topic of this 'new and improved' LFN might be a good idea, where the current ideas/plans could be discussed and then have it posted like LucasCast used to be, so that everyone can be 'on the same page', so to speak.
Just because I know some people might have difficulty getting to grips with the whole concept if its just in a written format like this thread, with different things spread out across multiple posts and eventually multiple pages.
Plus I think it would present an image of progress being made and probably inspire a little community spirit, as it's something everyone could listen to and discuss.
I have a feeling that I may have explained myself appallingly there... Just an idea, though.
As for the Let's Play idea, I definitely like the sound of that. There are a LOT of games that have the potential to make for very entertaining footage. Really hope that idea goes somewhere.