@JackScott: I completely agree.
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As for, if you are asking about an OS dev project that is suitable for someone who has experience in programming (professional or not, it doesn't matter), but isn't up to (or just doesn't want to) read tons of text before beginning the cycle of starting from scratch:
Make a small project by taking the kernel of an existing OS and assimilate it, just to get familiar with the processes in an OS (just don't release your assimilated kernel, just don't).
Next, if you are okay with using tutorials, go to a good one like JamesM's kernel tutorial (
www.jamesmolloy.co.uk), or like Bran's Kerndev (sorry, don't know the link).
Next, just for self exercise and knowledge building, write a simple 32 bit kernel in half assembly and half [insert language here]. This is what I'm doing, just because I think it's fun to do stuff in the lowest level language when I don't need to do them in C. Then again, I am writing virtual firmware for my OS...What ever you think is fun.
Just remember, OS theory is the simple part...I think......heh heh you figure it out }:]
Good luck,
Casnix