When writing on Phase II, I was thinking about little flags for the different languages. We'd just need a merged GB/US flag for en.wikipedia.com...
I don't like flags, and I guess many others also don't like them. If we really need some kind picture to represent a language, then please let's choose an image of a famous person who used this language to produce something important/famous/extraordinary/...
I don't like the idea of a "portal" page at all, and the idea of using flags is even worse; flags represent /countries/, and the very concept of "country" is something I want nothing to do with.
I do, however, like the idea of representing languages with images of famous contributors in that language; this could be used in lots of places writing about Wikipedia. I'd suggest Shakespeare, Hugo, Cervantes as the obvious English/French/Spanish ones. I don't know who would be appropriate for the others.