The application period for Google Summer of Code 2010 starts in about a week. We were able to enter in 2008 and 2009, so I'm optimistic that we will get in for 2010 too.
Saying "I'm willing to mentor" doesn't force you to commit yet; you don't have to work with a student on a project you don't find interesting. However, mentoring is a multi-week commitment to support a student who may or may not have the best planning skills - please be ready to help. I need to know soon how many potential mentors we have since we have to ask for a given number of slots from Google as part of the application process. If you are interested in mentoring, speak up here or by email, please. If there's a particular project on the GSoC 2010 page that looks interesting, put your name by it. http://www.dragonflybsd.org/docs/developer/gsoc2010/