I dunno about the idea from EB (Only took a quick look, really) but I think an idea like
this could easily be implimented. It is simple, has no rules (other then ones we would impose on each other, like no killing other people's characters), and is very fun. Biggest problem with these things is when people lose interest. I strongly caution against starting anthing like this unless you are fully comitted to spending a lot of effort at doing this Doing something like this can take months. (Just look at the dates on the posts on the link I have.)