Here is my opinion for the moment, it may change though
I think the unified "web based" project for building roms for the masses should be done with version 3.3. This could be done with fewer developers and more web expersts etc. as there aren't as many outstanding issues.
In the meantime however i would like to put my focus on making 3.5 better along with anyone else that is available. The ppcgeeks R1.1 kitchen is designed as a base, but with the right input we could work to fix all it's bugs and release only when it's ready.
At this point i think the 3.5 effort needs to be a select group, where as the 3.3 can be more open. That is just due to the nature of the bugs and potential problem for new members/lurkers.