1. If you do decide to work on the community project (assuming that it goes somewhere) you would be able to get some practice with coldstone projects. CS projects on the whole are entirely different than traditional programming projects. If the community project stays as a thread and ends up being shelved part way through, its good experience, but would be somewhat of a waste of time.
2. As for graphic and music development, asking for help works (sort of) but the most effective way to do it is by yourself. There are several free 3d engines availible, like Blender, Wings3D, and Clayscape. Meshwork is free, but they still want you to pay for it if you use it frequently. Music development can be done using Garage Band, Apples new iLife addition. But, for this you need an OS X Mac along with 50 US dollars.
Whose cruel idea was it to put an 'S' in lisp?