This is Tom from Sutekh - the geeks who stumbled onto the Megadooomhouse/Sutekh Mansion a little after you guys.
Our discussion of the subject is all public, at
but I'll summarise it anyway.
Our current model involves around 20 residents organised as a co-op or association. Most of our proposed residents are students, either at Sydney Uni or elsewhere, so we've basically been working on the assumption that we were going to rent the property, and cover most of the administrative/organisational requirements by using volunteers and house committees. We definitely don't have the resources to buy it. Price is a significant factor for many of those interested, which is the reason that we've gone for 20 initially. We're more worried about it falling over on account of financial mishap than through personality clashes - after all, it's a big house with lots of room to avoid people.
We were looking at keeping it pretty strictly residential, because a number of people were worried about using common areas where strangers might have access.
We've got 14 people reasonably solidly interested, although we're currently weeding that down to those who are *definitely* interested, so I expect 2 or 3 to drop off.
There is some concern - as I expect there is on your side as well - about whether we want to team up or not; particularly as we seem to have pretty different visions of how the house should work (pricing+business plans, chiefly), quite apart from the fact that together, we've got more people than the house could reasonably hold. We're having a meeting on Tuesday night to work out whether people are cool with a shared plan or not; but if not, then I guess no hard feelings, whoever gets it. We don't want to compete, though, or give the agent leverage to jack up the price on you guys, so if it falls through for us we'll let you know ASAP.
P.S. Feel free to kick me off the list if you need privacy.