I also suspect that you'll have a goodly number of Porcupines who miss such venues from their old surroundings, as well as the locals who find the idea a welcome change and breath of fresh air. Whether the numbers of regulars will be enough for your success is of course a crapshoot, but not an unreasonable one.
If it wasn't for the FSP project location requirement, I know of a great little place that needs a good guiding touch, and it sounds like what you have in mind would be just about right.
That's why I feel a college town would be the best location - more locals hip to the concept. I sort of doubt the place would work out in ranch country. It just wouldn't be a typical cowboy sort of joint.
Did I understand you correctly that the big annoucement will be carried live on the internet?