RPGs are time eaters, its a very famous game genre but it takes a long time of development, and lets not talk about MMORPG please!. For a team an RPG would take less time to develop (not necesary, but should). than a single person. Still, I don't think its a good idea, at least not for a first project to "prove" the community efficience, talent, etc.A 2d roleplaying game would be fun...
Don't get me wrong, but once theres a game engine (say a high level engine), you can make an FPS in no time (most of the time you'll be spending will be on GFX and SFX, as this types of games requires this). As well as many other game types. But for RPGs you'll need a dedicated engine, for all the features this kind of game requires.
Remember, the storyline is very important.
Remember, the gameplay is very important (and it goes from the hand of graphics as well).
If you show to a group of people a finished game, still untextured and unskinned, but with sounds. People will like the game, still, when you show them the same exact game but skinned and textured models and objects, the gameplay for them is 10 out of 10 when it was 6 out of 10 before (with the unskinned version). This proves that not only the story is important now adays (well, games has always been eye-candy, or aimed for) if not graphics, gameplay (functionality and interaction), etc.
I have been working on game dev (indie) for quite a few years already, still havent released any game, and this is because im perfectionist and I always want more and more, but for the best of the project. Again, don't get me wrong. One thing is working on a private project, which has no deadlines nor advertising, and aimed to teach yourself everyday with new things, which will help you the time you get on a serious commercial title. And another thing is having to work knowing theres a deadline, that the game has been advertised, it got good reviews, previews, and its being voted. What would make you lazy in this kind of situation? the adrenaline is pretty high, and you just need to focus on your task for the given time. thats all, you woudlnt fail if you know what you're doing. So theres nothing to lose, in fact, theres a lot to earn.
Okey going back to the subject (community project) I recommend a simple game, say a 3D Puzzle (still, it can be cleverly done, dont associate it with any other bad puzzle you've played before). Or a fighting game, 2 players, side by side, weapons to get from the arena's floor, bizarre action (get a pig from the tail and throw it like a rock for example ? ), I don't know, its up to you guys. If it comes to organize it, have a site, dedicated forum (with private section for development discussions) etc, dont hesitate to call me. Although been a little busy at work. If it comes to game dev, thats my job, not just a dream.
So, theres a big difference between a kid that is all happy because he just finished an RPG game and wants to make his own (on 99% they dont last a month before dropping the idea/project). Notice, im not saying you are. Im comparing here to let you guys know that I have many years on this, still nothing to prove (nothing commercial, thats it). I could post a screenie of my old FPS game if someone wants something to feed his eyes. Thats if you dont trust me

I'd say: give it a try to the community game idea, if it works, this proves a lot about the community (which is one of the bests i've seen). If not, you've got a nice experience of what game development feels like, And working on a team for just one goal. Publish the *****r!. (Which tells me that; if things goes well, a serious team could come from all this and you'll be cleaning your nose with 100 bucks, in some time ).
