I'd be up for this as well (another East Coast American) and had even suggested something like this a while back, albeit to limited response. I have most of the available lossless Crows stuff, but not a lot of the circulating lossy-only shows. I also have an enormous U2 collection. I really have to do some organization before I start trading on any massive scale, however, as my files are currently a bit of a disaster and also spread over multiple hard drives and backup discs.
In any case, I would advise anyone contemplating this to backup anything sent through the mail as hard drives do fail! (hope your's is ok, Jim!) I always try to keep all of my data saved in at least two locations, be it a CD/DVD and HD, two HDs, etc. even if they're just sitting at home. The mail handling process adds another level of risk. Also, some hard drives are designed to be "portable" and are usually smaller. I'd think that with some good packaging, they'd survive several shipments without a problem.