Uh, well, I'll try to get you for the first option, seeing as how I'm a poor student.
I've been working on a project, on and off for a while now. It's small, but I have a dedicated team of two writers and one modeler working with me.
It's a Space-Based Shooter/RPG hybrid. As of right now, there's no real fixed storyline set, just the overarching details, but it's going to be set in an asteroid belt, and it's going to be about a conflict between an advanced humanity and a technologically inferior, but much more numerous alien species.
The engine is built from scratch, written in C++ and using OpenGL. Currently, the "game" (not really a game at this point, nothing to do

) runs on both Debian Linux and Windows XP/Vista.
If you wanna see some screenshots, we have a small forum here:
http://advena.awardspace.com/viewforum.php?f=3, and if you don't wanna bother going there, I'll post some which I think are the uh... nicest. Not that they're too nice right now. But you get the idea. In development and all that.
And here's a youtube video, which is also on the forums:
So yeah. The game's constantly changing, but right now it has in a bunch of features, like loading it's own type of scripts, it's own type of resource files, loading any sort of image, and loading it's own kind of model format (out of necessity, easy to convert to though)..
So... uh... interested?