The challenge is actually understanding whether a telecommuting college student was really digging in, putting in the hours, and generating high-quality code. And, of course, there's the challenge of a distributed team (but that's a pretty well-understood challenge).

If you have a passion for productivity/GTD and that sorta thing, feel free to drop me a line. If you have passion for other things, it might be worth posting a link to a bit more information about you and what you enjoy. The only thing cooler than writing great software is writing great software that solves a problem that you care about.