If we did start a book of the month club, we could use our Facebook page for coordinating. I'm currently the only admin, I think, but that can be easily rectified.
Those who are interested in such a venture, which book would you like to study? One book per answer, please; top voted answer can be our first book to be studied.
The tie in with SE is that the text should be one that will stimulate our question-asking faculties, which we then apply by asking questions about the book of the month on Buddhism.SE