I have read with amusement the arguments why the Wikispecies project may not be a good idea by some of the ToL people. As much as I admire the work that went into the ToL and still goes into the ToL, it is also a project that has proven in the past that it is not open and willing to cooperate outside of its own project. When I asked to consider cooperation to come to a universal wikipedia taxobox, the answer was look at all our previous discussions things have been decided,, no we won't have that all over again.
The Wikispecies can have aspects that the current ToL does not have. It could have all published names with links to the author and the people making up the author attribute and obviously the publication. It could specify the basionym. It could specify what the next revision of a description is with the author, the persons, the publication data. It could have the scientific description as they are inherently public domain. It could have pictures from WikiCommons. It could have the nomen nudum, the nomen
If your interested I have a 80Mb MS/Access database with plant taxonomy that could be used for its datadesign. It is inherently relational and non wiki. It is not perfect but I know what is wrong with it.
Thanks, GerardM