Inspired both by this Photojojo post and the recent 'snap a pic of users who commit invalid login attempts' hack, Adam Pash at Lifehacker penned a Photo projects for the New Year post in which he put together a script that can automate this process on iSight-enabled Macs, more or less taking the effort out of your own Project 365. The script can be set to run each time you login (properly, of course) or at a specific time of each day, and Adam includes instructions for tweaking them to your needs. By default, they're set up to snap the pic and save it in ~/project365/pics/, adding a timestamp to the name of each file to help you keep track of everything when you're ready to make your YouTube debut.
I think this is a fantastic idea, and now that I have an iSight in both my MacBook and iMac, I think I might actually take a crack at this myself. A big thanks to Adam for putting together such a cool script, and be sure to check out Photojojo's original Project 365 post for tips, motivation and ideas on what to do with 365 pictures of you and/or your stuff.