If we want to keep this moving, I think someone should create a new thread with either a poll or with people voting to at least finalize a song choice. That's a start.
Then make a basic backing track for everyone to use to keep things synced (better than trying to play along to the studio version), and set a hard date for people to submit their contributions. Then put together what we have into something finished. See how that goes.
Projects like this often have trouble getting off the ground because everyone's doing their own thing and forgets about it, but I know we have the talent here to put together something if we push it along.