1. A shared tasklist: here you go: https://etherpad.mozilla.org/NuyrWHuWVn
The list isn't full yet.

As for the sdk - my approach is:
1. download tarballs (deb install didn't work as it should a couple of years ago and when installing from tarballs you can have both apophis and hathor, which is necessary to thumb-build some of the packages)
2. unpack it, run run_me_first.sh
3. setup the armel target as in the wiki, remember this and voila

2, AFAIC, we first need to get a list of all modules which need to be ported to python2.7. We can leave the old apps as they are for the time being (not to break anything) because they will continue to work without update. But newer applications, e.g. mnemosyne need both py2.7 and the modules.

Please add all the python2.5 modules (by package names) you know that need to be ported to 2.7.
Notice the groups on the Pad. Essentials are like the very basic ones, the ones we need to run anything (such as pyqt) separately, the less important ones are in the second section. Extra stuff is stuff which is in the repos and would be useful for a particular new application, ultra extra is something which isn't in the repos yet.

I don't know what would be better - to create a separate source package for python2.7 or to add some code to handle both version. I'm sure, though, that a separate package might be easier - you would simply change each "2.5" to "2.7" in the ideal case.

Once we get to know what has to be done, we can divide work. As the MeeCoLay developer I can tell you that porting packages ain't innovative. It's just reusing what's already done and solving compilation errors if you use upstream packages. So tasks are indeed often small and very well defined and specific.

3.My time this very moment is really limited as I'm a full-time student I have a couple of deadlines next 2 weeks, so I'll be able to devote some sane amount of time after 11th Nov.