In light of Karl's latest post, "Licensing and Content", I say we take a break from discussing what this game is and isn't and focus our efforts on what will really contribute to the project -- finding models.
What's really being sought after are 3D modeling companies (or solo modelers) for hire. Free and/or cheap 3D models are great too but for time, budget, and programming purposes 3D teams would prove more useful. What's important is that the models have a uniform standard (size, style) to go by so that implementing them into the game is easy on Karl, rather than forcing him to tweak model after model so they can work with one another. Another advantage is that most teams or solo modelers will have thier own style and techniques when it comes to modeling, such as making only low-polygon count models, and thus give the game its own unique, personal style.
Now I know everyone here would like to contribute to this project in some shape or form, and really people, this is the best you can do. It's obvious just how excited everyone is about this project, but without our help Karl cannot be expected to produce the amount of content needed for a release anytime soon.
All it takes is maybe ten minutes a day. Just hop on google or whatever search engine you prefer and look around for some modeling teams or models available. Once we know what our options are i'm sure everyone would feel more enthused to making a donation to the project. Knowing Karl i'm sure those who contribute a good deal will not go unnoticed.