The only way I'd see myself being involved in something like that would be the song selection/actual speaking portion of the podcast. I want to be the guy getting my musical interests out there, because I really care that much about it. I've been meaning to figure out the process on my own, the live recording aspect, but that's the only thing I'd see myself having problems with. Definitely have the passion and music collection for it (as well as a pretty decent announcer/host voice, from what I've been told).
(Just to clarify, I was referring to a separate show, not a co-hosting kind of deal. Though I'd imagine doing so over Skype wouldn't be too tricky. I know enough musicians/podcasters who use it.)