it is gorgeous. the deterrent for me would be knowing all the time needed to be invested in it. if i didn't have to work so much at my "real" job, i'd be tempted. the colors and layout are wonderful--and i really like the black background she showed, as well. i'd be hard pressed to choose!
i say, do it! even if it requires a little rest stop along the way, and something else to do for a distraction, you've got the workings of a real heirloom here. keep us posted if you do jump in!