Its not a bad idea at all, Seems like a few from here will join.
I have been an GM on a private server , my rl friend was hosting the server, but it didnt went that well.
It wont be that easy to find many people at the start.
But if ever make one, i might visit it a few times, As i also got an account on Original Wow, and thinking of starting again on Cataclysm