I've been longing for the return of the FOTpedia for years, as I think it can be a great, living resource along the lines of the johnintheuk/scratchbomb approach compared to the Recidivism recaps, which are not that great for quick searching and increasingly erratic/non-existent post-2008. (I hope to complete the recaps of the March marathon shows before the next Olympics.) I believe all of the old FOTpedia material is at least semi-retrievable via archive.org, which is good because I (and others) spent many hours feeding material from the recaps and other sources into it.
In terms of the Wiki, it seems like there could be a page for each installment that would be a general rundown of the show a la the johnintheuk/scratchbomb work, and then go from there. For example, in the general rundown, it would note that Beatles Milt Mortner called at x time with a brief description of the call, and then you could click to a page for Beatles Milt Mortner. As yesno mentioned, the organization can be difficult to sort out, especially in a collaborative editing venture. Then again, as far as I recall, the death of the FOTpedia was purely a technical one -- it broke and nobody fixed it. I don't think it was ever abandoned due to any sort of aversion to its organization. I intended to continuing adding/revising material 4life. As for what gets its own page, I definitely see value in, for example, having a page for each Wurster character. I would also think people like Petey, Fredericks, Officer Tom, Julie from Cincinnati, Purple Shirt, Paycheque, Spike, and other notables would get their own page, but not necessarily every regular caller. It would be a judgment call on a lot of stuff, but that would be part of the fun -- to see if you could build a worthy standalone page for some Best Show-related thing. If someone wants to due a Wiki page for Bonnie from GA or Captain's Donuts, then have at it. Keep in mind that I've written over 1 million words about The Best Show so I tend to side with completism when it comes to documentation. Perhaps the more important issue is being consistent within a page for characters/Newbridge places/callers/etc. In the old FOTpedia, the organization tended to vary depending on who did the entry.
I noticed that johnintheuk cited Tom's music set for this past week's show, which is a good idea for any Miss Wiki-ish project since people have been clamoring for those for a long time. I assume if we ever compiled Tom's playlists, they could probably be added to The Best Show's WFMU page. I'm sure some station volunteer would enter all the data in exchange for a nice gift basket of fudge and a few lavender pizzas.
Sarah's Rashomon idea is also intriguing ...