As is evident by complete lack of replies here recently... yes. I have been traveling overseas (for work) for most of 2004, and the times I'm home have been taken up with other real-life things. I'm sure everyone can relate.
I'm leaving this idea up, since I do think it's viable. However, as I stressed in the intro, it will require the greatest burden of effort (and education, if need be) on the contributor, rather than myself.
As I envision it (and I'll write more about it when I have some free time), there's something called Microsoft Sharepoint Services which may fulfill our requirements... basically, both I and the contributor would have access to the subdomain. Each of us could maintain and edit the subdomain directly on the server, using MS FrontPage. At some point in the subdomain's development, when both I and the contributor feel that it's "ready", we would make the link public.
Foul