Sounds like a great idea; I would definitely listen to it since VGC has a lot of interesting members.
The website I used to work with did weekly podcasts. I only participated once since I had class the day the podcasts were normally recorded, but it was a pretty fun experience. Every weekend, the participants went over what they were going to discuss before doing the podcast on Monday. Some topics we covered:
- This week in gaming news
- What games we are playing
- Upcoming releases
- Sales discussion (this would be perfect discussion for the VGC podcast)
- Retrospective (Discuss on whether a big, anticipated game that was released last month or so lived up to the hype. We debated on whether RE5 was a great game or not three weeks after its release.)
- Random discussion/debate
All of those segments weren't in one podcast: just three or four of them. Make sure you put a time limit on each segment. We went on for 25 minutes non-stop just bitching about RE5, and we had to cut one of our segments.