I'll do modwork, but I can't guarantee quality texturing- if necessary, I can also make my own concepts for said mods to fit most themes. I also have access to viable texture maps and music files I doubt anyone else here would have...
And .3ds really is the best thing, most likely. Practically everything (if not literally everything, I can't be sure about Ray Dream and some obscure progs) can load them, and TrueSpace doesn't utterly destroy them like it does DXFs, but the textures don't stick most of the time. TrueSpace can load .lwo files if necessary, but who really wants to deal with TrueSpace more than necessary? Actually, what I'd recommend most is that everybody get the same good modeling program (you all probably know what I'd recommend strongly, even though that does involve a spanking load of work on my part), but that most likely ain't gonna happen. Second best, we sort out which program will be the final one (for this, I don't recommend TrueSpace or the stuff I use- crappy texturing for the latter and crappy program for the former), and make sure the people responsible for texturing and overall polishing of the project have that program- one that takes .3ds files. Modders make the body and send it, possibly with suggestions as to what the texture look should be, and send it to the texturers as a textureless .3ds. The texturers do their thing, and then they convert it to whatever the game format is, if applicable (like POFs for FS). Finally, someone with the equivalent of a POF editor designates where the gun and thruster points will be- as per the modder's instructions. It could even be the modder himself. The whole point is to have an assembly line, see? And this can be done individually, in batches, whatever.
Another step we should probably start thinking about now is how the final product will use our models- Will the gunpoints, etc, be stored internally (like in FS) or externally (like I think Iwar is)? What kind of poly limits will we be talking here? Etc., etc.
Plot can come after the basics, dude. And I think Eishtmo, as official HLP storyteller, maybe should come up with it.

------------------