more...Good luck to everyone!
Have fun folks!
Make sure you smash out some work early on. The most important thing is to have a PLAYABLE PROTOTYPE within the first few hours. It's all well and good to brainstorm ideas, but as soon as your ideas are on the screen in front of you, they take on a different life.
Nothing beats putting it into code to give you a better understanding of how it works. Even if it's quick and dirty and hacked together, it's better than having only assets, shaders, and a broad idea of where it's going after 3 days.
And try to make something that really throws away common mechanics of FPS's by removing or adding a gameplay element, or creating a mission/objective style that hasn't been done before. The point of this is to challenge the notion that First Person Shooters are a stagnant genre, but you all know that anyway :p
Anyway, once again good luck and have fun!