"build it and they will come"
This sounds like an excellent idea guys! I really like the idea of a private tracker somewhere, kinda like the Wilco tracker site (which I think is still up, but I haven't been there for quite a while now). Granted it would probably be one of the smallest trackers going around though. But that's ok, certainly nothing wrong with that.
However this actually sounds (eerily enough) like The Jayhawks et al Direct Connect trading hub that existed, once upon a time (may that rest in peace).....
Unlike other tracker sites where they only host the .torrent file itself and not the complete file set, so Phil, are you talking about having the actual concert (of whatever) on your server? If so, then yes, you'll need another (or larger) hard drive in your server.
Some things to consider though, once something is setup and there is music available that is, that you will have people who have never traded music before, are not familiar with some of the different compressed audio and video file formats out there (shn, flac, ape, oog, .vob, .torrent, rar, still on dialup, etc), who will be wanting to join in on some these reindeer games.
Are we thinking lossless, or lossy formats? Or both/all?? Bear in mind that there will be some who want to join that are going to have a steep learning curve for new software (if they succeed or not is a different story).
Phil, I know how busy your schedule is and what not, but how hard would it be to search around a bit for some tracker software, find one, and get it installed? Not saying to get something up and running and totally functional, but just get something up and fine tune it when you have time. Do it in stages.