We were just talking about this here at the New Hampshire Liberty Forum as a way to raise funds and awareness for the FSP.  However, you would think that there'd be some pre-mine given to the FSP (or at least its Board members of FSP movers) to justify doing this.  I would gladly support it if there were a viable way to help the project out.  The FSP certainly has more than enough people to create the Network Effect and get them accepted far and wide.

For extra functionality, build something in where people can send encrypted messages to other people, or that allows locked coins, colored coins, or some other functionality that is worth trying out.  Build some features in similar to Namecoin, or offer some resistance to currency volatility by reducing the block reward until demand catches up.  And use CPU mining, rather than ASIC-centric SHA256.

I'd love to work on a project like this, but I would need to see how the effort is actually going to help the FSP--rather than those ASIC mining firms that are already doing great financially.