Dear Shreyas, Your references definitely sound compelling and I firmly believe that you could make a wonderful project, but the two hours left before the deadline are not anywhere near enough to prepare a solid proposal. Proposal is not just about writing two paragraphs about yourself, you need to prove that you understand very precisely what you are undertaking, and prepare a solid plan of how to execute that.
As Umesh already replied, we hope that we will have another chance for GSoC next year, but even outside of GSoC there are plenty opportunities to help us build a better product and better community. We are more than willing to help you learn and contribute to OpenSource if you would like to proceed. Except for a small number of students who occasionally get a stipend, the rest of us are all volunteers who work on the project in the spare time, and at least to me Open Source allowed getting sufficient experience in coding that I could apply for a software engineer without having any formal education in that field. Regarding your enquiry about build statistics idea. We had one proposal for that idea already. If that proposal gets selected or if the student decides to continue despite not being funded, you are more than welcome to help developing that project. The project will eventually require a lot more workforce than one student can possibly do in the course of three months, so any help is warmly appreciated. We all benefit by learning from each other and helping each other. The same applies to any other students who might not be the lucky selected ones, or might have found out about GSOC too late. Also note that those who start contributing early have a considerable time advantage and thus bigger chances to get selected next year. (One of our best students had a few hundred commits before starting GSoC.) Mojca