I don't. You want this to be an official PHP thing, then it should be hosted on an official machine. We can't have each subproject being run by somebody else (if only for security reasons).
As much as I'd like to see this project expedited, as well, I agree with Derick, here. It would be nice to have an independent server, but we can't risk the possibility of its admins becoming "rogue", and dirtying the php.net domain.
Far fetched, maybe.. but systems should be controlled by the systems team.
(note: I'm not saying we can't trust anyone.. I'd expect the same to apply to any requests I would make.. or Derick would make, or any other team member, for that matter).
S