I've posted this elsewhere before, but I thought I'd post here too because of some of the responses I got.
On the 31st December 2010 I ended my 365 project. The project came about largely because I wanted to become familiar with my (then) new K7 and become more fluid in composing images.
It was a huge success for me; to my own eye I became significantly better at composing images, using the features of my K7 became automatic (so I could make changes without thinking) and I got a set of photos of which I think I can be proud. Nothing to set the world alight, but definitely good stuff for an advanced beginner.
The main points I'd like to make are: it can be done and you should definitely try it. I have a day job, I got a new daughter in Feb 2010 (to accompany my 3 year old son), but through perseverance (and a healthy helping of OCD) I got it done.
Out of that experience I got 100 approved photos in PPG and even if you think their standards dropped over time, it was a strong motivator to keep going.
If you have the time, check it out
here. It's in reverse order, newest to oldest. Thanks for your time.
The Final Shot: