Well, since this project is going to happen, I might as well post some ideas and hope for some positive feedback. 
First: thank you buzz_klik for the original sprites, they rule.
The one thing I'm trying to nail down is the class names for Jeff, Ryan, Vinny, and Brad. 
Another thing is the story. I mean, it's freakin Giantbomb, what could it possibly be about? 
At this stage, I'm just trying to get the sprites completed and tack down some basics of the game (like items).  Next up will be locations and enemies. I'm not too sure where that's gonna go, but I'm all ears. 
So please, if you've got any ideas or constructive criticisms, post 'em.