Chris, You will need to address two, potentially bigger, issues: license and implementation language. You will need to get University of Illinois and past/present LLVM developers to assign the copyright over to the FSF. Yes, you've claimed it's easy, but it needs to be done. Otherwise, we are in limbo. We cannot do anything with LLVM until this is finalized.
Over the last couple of years, there have been some half hearted attempts at suggesting C++ as a new implementation language for GCC. I would personally love to see us move to C++, but so far that has not happened. I am not quite sure how to address this.