Not sure what will come out of this, but we are currently looking for a Blender (that is a must) freelance animator who is willing to open-source his work, and be paid by community funds pooling:
http://forum.freegamedev.net/index.php?t=msg&th=613&start=0&S=b0a906524b81d200013a767854b05121
Currently there isn't a big amount of money in the hat yet, and specifications are not 100% clear, but maybe someone is interested in providing input (for example some figures what specs would cost how much etc).
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Are you sure that Blender can use .md5anim? I'm not seeing it on either the import or export lists.