Ooo! Ooo! Me! Memememe! (And now I'm reading that as "meme meme".)
I'm right there with you Chris. When the game is running on all thrusters, then it's fantastic, but we certainly get into these lulls of emptiness and void. I actually think that to me, the game has gotten to the place where I'm invested in it enough that I'm not going to lose interest after one of these lulls, unless it's exceptionally long. But I know that if such a lull cropped up really early on, before investment had been grown, it would be all too easy for it to grind to a halt. That stands out as one of the biggest and earliest hurdles to be overcome for any PbP game.
I'd be totally in favor of another PbP game, for much the same reasons as you mention. I am hoping to improve my own MC-ing capabilities, so I would not in the slightest mind acting as an MC, if other people weren't interested in the job. Hopefully, I haven't annoyed either of you enough to get me excluded from the club, so, assuming that that's true, and I'm in the clear, I'm totally interested.