As far as editing in Audacity goes, do you need the countdown, or is it not quite easy to move the (unedited) tracks around until they line up just based on the normal conversation? I dunno. Might save, ooh, ten seconds in the editing process.
As far as editing goes, I'd aim to get it down to about an hour long. Cut out some of the meandering, summarise (no need to discuss that you're all in a cultural vaccuum and don't get to the cinema - just mention it and move onto the reviews, etc). And definitely get better music. Oscar - get on with it! And the logo looks like the kind of thing that got painted on the noses of German aircraft in WW2.
For the actually getting together to record it, a regularly updated thread where the next session date and rough agenda is posted would allow the people who are going to be on it to figure out what to discuss in advance.