I was just thinking about this topic myself yesterday, and today Tim at Distant Shores Media (DSM) has written another good blog entry.
It's also interesting that DSM list The Open Bible Translation as one of their (future?) Door43 projects. Very similar name to my Open English Translation (OET) that I have started work on, although I'm yet to publish any details (apart from the brief mention here).
So why not just combine with one of the several open translations mentioned on this and previous blogs? Yes, I'd like to in terms of sharing resources, but it would depend on agreeing on a common philosophy of translation. That, of course, depends on your target audience amongst other many factors. I guess I need to get into gear and start placing my thoughts into a public forum, but I'm in a place of major job decisions and transition over the next few weeks so it won't likely happen before late June at the earliest. :(