Adding a post here to keep track of any FAQs. I'll add to and edit this post as we get more questions coming in:
For now, we're taking reservations, which means all we need are: Your contact info (email, mailing address, and possibly a phone number) and 20 dollars (PayPal is easiest for me), and the name of the character(s) you would like in the book. What that gets you is a free copy of the PDF when it comes out, and a slot in the book. We'll send out a series of questionnaires starting in a day or two for people to fill out. Once we have your description, we'll do the artwork on our own and lay the book out. One character per slot. If you want a team of characters, you need to pay for an entry for each team-member (sidekicks included). Vehicles and Headquarters which only appear as stat-block entries we can probably squeeze in without problems, as long as they don't push the word count too high.
In case it wasn't obvious, you may NOT use a previously copyrighted characters. No, we will not be doing Spider-Man or Captain Marvel fan-art for this book. If you want that stuff, you need to go through regular channels. AKA email us for that topic. Only your own, original creations may be used! You must own the copyright in order to reserve your slot in the book.
You will provide the stats for the character, and the write-up. We'll give you a word count limit (working on that right now) and an outline to use (so everyone's entries have the same layout), but beyond that we just want to make sure all the characters are PG-13 or less (no pornographic material for this publication).
We won't be going back and forth with people double-checking the artwork, so you may not get to see your character art until the book is ready for publication, but we'll be trying to make sure each character gets a great image so everyone is happy with the book. We'll do this with a form you'll fill out to give us a solid description of your character. We will NOT be taking requests on poses, only on the appearance of your character. Poses will be up to us because they have to fit within our layout and be interesting for us to draw.
Email me at:
james@jamesdawsey.com for more information. Or send a request to
dan.r.houser@gmail.com (that's also the email to use for PayPal payments).
Thanks for your interest, I hope you decide to reserve a spot for yourself! Less than 10 Spots left! 
If you've already sent Dan an email or a payment, drop me(James) an email as well, so I can put your name on the list!
(Adding some more answers from Dan below)
Payment can also be made through PayPal to this email address:
dan.r.houser@gmail.com. I plan on doing layout the second the art is finished. For a 30-60 page pdf, that takes around a day. We'll make an announcement when the art's done, and you can figure 24 to 48 hours beyond that will be the release date.
Power Level, we'd like to keep it between 10 and 15, if only to make it usable for players as characters, or GMs as villains without making cosmic level threats to the universe.
(James adds: We can also use characters from PL 6 to 10 for Hero characters, if you're running in a low-powered game!)
(James adds: You can go 'off the map' with Power Points per level if it matches your concept, but the more people who stick to 15pp per Level, the better the product will be. If your character has earned experience since starting the game, make a note of that in the character's background).
With the first release of Hero Pack (Wave Zero) I had limited it to just heroes. But believe me, villains do well when they're included in a project like this! So, anti-hero, villain, what have you -- the only thing we ask is that you supply the stats and the character description -- I may even ask that you provide a background for the character, depending on the length of the final product.
Time frame to get the stats in would be based on the number of slots being sold / finished. Ideally, we'd have the stats and such before designing the character, after we'd been paid.
Adding some new questions ( I swear I'll get this entry organized better later):
We're sorry, we won't be giving out lists of 'who else is in the book.' These will all be fan-submitted characters, and there's only 30 of them, so you can relax in the comfort that your character will be unique in some fashion. At the very least, you will be getting unique artwork (we will not be repeating art from other projects, without express permission from the character's copyright holder).
Copyright: We do not own the characters in the book, however by reserving a spot you are granting us the right to publish the PDF in perpetuity, and to publish a print version of the book in perpetuity. If you want to use your characters again in some other shape or form, you have every right to do so. We maintain the copyright on the artwork (so if you want to use it again for profit, we'll need to work something out), but the characters belong to their creators.