I'm about to win my first game on Very Hard (Paragon Syndicate), so I say let's go for it, with an order of MJW -> Nauf -> Myself. I don't mind losing either, if we do it in style. I would suggest our reports for the early sets explain our decision in a little more detail than we might typically otherwise for a game like Civ IV, both to make them more comprehensible for anyone reason who is curious about Planetfall but doesn't own it yet, and also because at least in my case I'm still figuring out how to play well.
I've played most of my games thus far on the Capital World template (which maxes almost every map features setting), although I usually turn down the number of Teleporters to few or non and remove independent cities from the game, because I think they're kind of cheesy. My limited experience leads me to believe that most of the other maps types are easier, as you don't have to risk troops clearing structures to really get your empire running, but also not as fun because there aren't as many options to specialize cities.
My semi-informed ranking of factions is as follows:
Top Tier: Syndicate (stun mods for most units, easy acquisition of overpowered units from dwellings, strong economy), Assembly (stun mods, T2 medic unit is insanely overpowered, best economy)
Mid Tier: Amazons (Excellent T1 and T2 infantry but not many gimmicks to help them win combat besides maneuver & shoot), Bugs (hardy, expendable troops but none of their units are otherwise particularly good)
Bottom Tier: Vanguard (T1 infantry can eventually equip powerful mods but are otherwise lousy, Worst medic unit in the game, too many support abilities vs. actual damage dealing), Dvar (terrible damage output due to over-reliance on single action vs. repeating attacks, awful units across the board, dependent on Secret Tech to access multiple damage channels).
That said I'm happy to play as any of them- just maybe keep expectations in check if we go Dvar
As for our Secret Tech, let's select a faction first.