It would be a great thing if USF were considered for Google's Summer of Code 2010, because we would then have several developers working on USF for the summer as a job, meaning really good progress towards the first public release. We have a good chance at being considered and accepted, so we should really try.
The program needs mentors though, and so the first order of business should be finding those that are willing to act as mentor. It is not a full time job for the summer (remember, the student is coding/working - not the mentor), but it's a responsibility nonetheless.
As of my current understanding, tshirtman is one willing to volunteer as mentor, so we have 1. The more, the better, because that's just more student-mentor pairs working on USF. I myself am unwilling to act as mentor, as I more desire the money earned from acting as a student. I myself will apply for multiple student positions, so I may not even end up working on USF, except in spare time.
So yeah, I just wanted to raise the word about GSoC, and how we should compete. I'll be working on the Ideas page - please add to the Ideas page if you have an idea to work on. The more legitimate things we have to work on, the more students we can mentor, and the better it looks.