I have actually started a project like this recentyl. It will take me years, but whan its "done" it should have everything linked up and BIO and things like that, as well as family tree(s). I've got a lot to do, need to get information from my grandparents and such. So far the collection stands at 1.7 GB, its a few hundred photos, and I havent done anything as far as removing excess and resizing them.
So far I am just at the really OLD ones, I want to get them preserved while its still possible. Most of the people I have never even heard of. I
Example:
http://www.tylerk.net/projects/Family/1.jpg
So far i have just been scanning the full page, and then typing any info on the page, its going to take forever, but its easy to just scan and scan and scan, and then edit later. I've dont good scanning while watching movies/tv.