I recently read Scott Rosenberg's book Dreaming in Code - about the development of Chandler, the Open Source Applications Foundation (OSAF) personal information manager. I'd recommend it - it's interesting and well written. For anyone dreaming of creating software, it's a scary story.
If you haven't heard of Chandler, don't feel bad. Despite the project being started in 2001 it has yet to release an actual product. The web site says they're "getting close" to a "preview release". Coming from a small business background it's hard to comprehend how anyone can go that long and spend that much money without actually producing anything for people to use.
One lesson I think the book illustrates is that constraints are good. Given virtually unlimited time and money what will you produce? Judging by this story, probably nothing.