The setup sounds good to me.
Yeah, it's important that people realize this is just to get on the official projects page, which is a separate issue from getting a project forum -- I think a project forum should go to those able to put together some kind of tech demo showing the team has minimum capability to create something. Taking CC:DBT as an example, I guess/hope that the "Chrono Trigger 13th Birthday Tribute" and "Magus Unmasked" videos would suffice for that, if people needed an example.
It's really difficult to judge when a large scale project will be complete (that depends on whether people suddenly get pulled out due to real life issues, which is bound to happen as we well know), but maybe we could judge from the completion time for CE and Chrono Trigger+ as useful averages for larger projects.
It'd be great to have an advice page for people wanting to start major fan projects, something that really sobers people up before they embark on something heavy duty. I mean, there's pre-production, production, and post-production phases; a need for art, coding, and scenario writing talent...I mean, fans need to realize that they're really embarking on something akin to making a major motion picture.