As far as the mechanics go, it doesn't really matter. They are not significantly different to me for purposes of merging et al. It's up to the preferences of the people who would use it, i.e. you and Samuel.
If you'd like to ask the sourceware robot for glibc group rights, I'll approve you. Then you can each push <yourname>/* branches to your heart's content (with any copyright-kosher commits, as per general libc repo policy). If you want to start a hurd/* branch name space, you can propose conventions and policies for that on libc-alpha or libc-hacker. I probably won't agree to there being a hurd/master, because if it's truly right and proper for Hurd libc, then I'll just merge it onto the trunk. But some other shared branches that hurd folks find worthwhile to track would be fine with me. Thanks, Roland