Just a thought,
Maybe we can organize a Drupal 7 mini-hackathon (http://en.wikipedia.org/wiki/Hackathon), where we meet with the intention to bring D7 closer to release by looking at Drupal 7 Issues (http://drupal.org/project/issues?projects=3060&states=8,13,14&versions=1...) and attempting to close some of them.
This would require a lot of prep work, but could be a lot of fun and would definitely grow our understanding of the inner workings of Drupal.
Prep work would include:
1) running and testing Drupal 7 (http://drupal.org/node/156281), investigating D7 core code and browsing the open issues.
2) learning the Drupal Coding Standards (http://drupal.org/coding-standards)
3) learning how to submit patches to core code (http://drupal.org/patch/submit)
4) getting an understanding of the general vision for D7 (http://buytaert.net/starting-to-work-on-drupal-7)
Requirements for such an event to take place would be:
1) Everyone would need their own computer, ready to run the latest source of D7
2) An IRC channel
3) Beer and/or Coffee
Location depends on factors like
1) Where can we have internet access
2) Where can we plug a bunch of computers in
3) When can we all meet
4) Where can we have beer and/or coffee
5) Where can we do (most) of this for free?
Anyway, I'd like to spark a discussion here before our next meeting, so we can nail down some of the logistics of such an event, if people are interested.
Cheers
gav

Comments
or, if Drupal 7 core code
or, if Drupal 7 core code looks to intimidating, we can have a look at improving/porting a well-known module, or doing work on an unfinished module. Suggestions?
Oh god how did this get in here I am not good with computers
I like the idea of
I like the idea of contributing to core, but I have to confess I haven't had much of a look at Drupal 7.
Working on a module might be more realistic if it's a small group. Any suggestions? I could probably look back through the feature requests I've made... ;-)
Off the top of my head something Views 2-related seems like an interesting candidate, since so far I've found the coding for that extremely different from that for previous versions, not to mention Drupal in general.
If anyone IS interested in
If anyone IS interested in playing with D7 core, a good place to start is http://www.slideshare.net/beejeebus/drupal-7-upcoming-features-presentation, http://groups.drupal.org/improvements-core and if you can make it (I.E. you already have a ticket) http://dc2009.drupalcon.org/session/drupal-7-whats-done-whats-coming-and.... Regarding that last one, I'm sure the slides will go online after DC.
I'm going to check around the issue queues for popular modules - I'll check out Views 2 as well. Ideally we'll find something that we can code, test, review, patch and submit in one night.
Oh god how did this get in here I am not good with computers
Another
Another link!
http://drupal.org/node/247982 - Code Sprints
Oh god how did this get in here I am not good with computers