Some of you may have seen this already but thought I would share just in case. I am very interested in starting this project myself. This sounds like an excuse but I'm going to start it as soon as I have my Sigma 30 in so I can shoot all of the portraits and have them all have the same feeling. I also need to figure out model release forms.
http://www.100strangers.com/
This guy isn't part of the project but I've been watching him on flickr for some time now and he does the BEST(imo) stranger portraits.
http://www.flickr.com/photos/benoitpaille/