What are you looking for in a book club?
Any ideas to facilitate your book club vision?
Are you willing to take an active role in leading book discussion?
What kind of pace would you like to see for a book club?
I think taking the tradicitonal route and picking 1 book from a master list and having people review as they finish seems to be the easiest way to me. Having a mod ask specific questions I think is a great idea, it'll give different perspectives on the same book. Make people think beyond what they comprehended. I'd be happy to do that as well.
As far as pace, we could pick 3 books and have discussions on all three at once. We can poll for the top 3 out of our master list (which we will always add to) and people can volunteer to mod or even just come up with their own questions to submit.