Yeah, either would be good, though it would be best to get it on gutenberg where more people would be likely to see. I just checked the gutenberg site and it doesn't look overly complicated to me to get stuff up. According to the FAQ:

There are acres of words in this FAQ about that, but it all boils down to 4 simple steps:

Get an eligible book — pre-1923, or one of the exceptions. Pull it from your attic, borrow it from a library or a friend, buy it in your local bookstore, in a flea-market or on-line. We don't care which.
Send us a copy or the front and back of the title page so we can file proof of copyright clearance.
Copy the text from the book into a computer text file. We don't care whether you type it, scan it, voice-dictate it, or think of some totally new way to do it. Just get it into a file.
Send us the computer text file.
That's all there is to it!

Which seems fairly straightforward to me, unless I'm missing something.

It would totally be doable as a project! Possibly for quality control we'd want someone with a good eye to read through the whole thing once everyone was done, to make sure there aren't any glaring errors, which would likely be the most time-consuming part for any of the people participating. And by the way I call NOT IT for coordinating...!