It's hard to really make a comprehensive guide, because everything has an indefinite amount of wiggle room. Diet, resistance training, supplementation, cardio, etc etc.
I'd be willing to contribute to the project. In fact, I've got some ideas for how we could manage the project.
I think our goal should be to impart the most wisdom possible in the shortest amount of time so that a person can make the most informed choices. A newcomer will not have any biofeedback information to tell themselves whether or not something is working, and that's where we come in: Just to give them a nudge in the right direction.
In February 2006, I decided I was going to drop some fat, lift weights, and start running. I put in about 300hrs of reading before I even picked up a weight. I'm still just a beginner, I'm going through a lot of the stuff that our young grasshoppers will be going through.
That being said, I think we should start FIRST with a list of recommended reading.
My suggestions, with categories and notes:
Losing Fat:
"Burn the Fat, Feed the Muscle" by Tom Venuto -- Probably one of the more comprehensive nutritional pieces you'll ever read as a newbie.
General Bodybuilding:
"Joe Weider's Ultimate Bodybuilding" by Joe Weider -- This book is probably the best summation of everything known about bodybuilding circa 1990. It is also very cheap online.
Powerlifting:
"Starting Strength" by Mark Rippetoe -- The Newbie's Squat/Deadlift/Bench Press Bible
All 3 of those books together will set you back about $60 or so, but I think that any person who has read the above 3 in their entirety will be fairly educated before coming into contact with the information you guys are going to piece together. Do you agree?