Hm... might work ok if the hacking on projects together aspect of it was relatively low-pressure/low-commitment stuff, pitch in if you have time and find it interesting but don't guarantee anything. But otherwise mixing two big-ish commitments (living together stuff, work stuff) could lead to some unpleasant friction if things don't go well. Sometimes you do want a bit of separation between 'work time' and 'home time…
Anyway - enough speculation. I'll let you know how it goes :)