This is in progress. I'll provide more details when I have them. My requirements are:
1. A default site for hosting packages and providing the feed. This would be our equivalent to rubygems.org. Anyone else can have their own feed (like CodePlex.com) but this is the one the tool looks at by default.
2. No approval process. If you have an account on the site, you can add packages.
3. Packages can be hosted on the site, or pointed to on another site. Thus the site itself can host your package (except for GPLv3) OR you can point the site to your package hosted elsewhere (much like Web Platform Installer). We're giving developers a choice