At last after a long waiting ...
I was planning to take this course, This is definitely a good news.

@ l33t5h@rk - that's my pleasure to help u  

and I am just curious to know what exactly are u planning to do, I mean are you setting up some kind of lab to teach some students?
I have been trying for quite some time now to make my university setup a formal lab for security students but it's all gonna take lot's of time and talks with management. So a bunch of students gathered together and started building our own lab for practicing, it's still under progress
.
For now we are planning to use:
3 desktops running various OS's on Virtual box (XP, Vista, De-Ice, Metasploitable)
Some Alfa cards, Linksys router and AP for wireless penetration testing.
Webgoat, Ultimate LAMP for some Web App's stuff.

Following resources came handy for setting up our lab:
Professional Penetration Testing: Creating and Operating a Formal Hacking Lab by Thomas Wilhelm
http://www.metasploit.com/help/test-lab.jsp

+1 OSCP
if I get enough funding, the only course I will enroll is OSCP.

As far as teaching 'Metasploit' in universities is concerned, there is an article on Rapid7's blog

https://community.rapid7.com/community/metasploit/blog/2011/11/04/teaching-metasploit-in-higher-education

Sounds interesting 
my friend is on to Cryptography classes, I am on 'Computer Security class'

Scapy is a sophisticated packet crafting tool that will come handy for a SYN flooding attak part. Scapy is really flexible when it comes to packet manipulation,you can literally change any field of a packet.

This project sounds promising 
Just downloaded a copy, will post a feed back once I start digging deeper into SPT

The beauty of Internet lies in it's openness, Internet is one of the best things that happened to our society. Internet is brain child of some visionaries,luminaries.

"Right now, the U.S. Congress is considering legislation that could profoundly affect the future of the Internet. It's called the Stop Online Piracy Act.
The fact is that this legislation as written won't stop piracy. But it would pose a serious threat to social media and user generated content sites (like YouTube) across the internet. It could also undermine some of the core technical systems underlying the internet, creating new cybersecurity risks."

https://www.mozilla.org/sopa/

Internet is at the edge of a very crucial decision that can shape it's future. when did politicians got the power to control a brilliant open infrastructure like Internet. I think it's time that we have to protect what is rightfully people's, we have to protect the efforts of the amazing people who built Internet with out loosing it's openness

One of my friend who deals with Algorithms and stuff cleared it, I am still scratching my head on it 

I have never used Aircrack on Windows, so I have no idea about the performance, compatibility or support for various cards. Would like to hear from some one who has used aircrack on Windows 

For any Wireless penetration testing task my choice has always been Linux OS because many powerful Tools esp. Aircrack, Kismet run on Linux. Linux also has a very good support(drivers) for vast number of wireless cards.

Windows is not piece of cake but some notable wireless networks penetration tools that I know are:

Network Stumbler a.k.a NetStumbler – This Windows based tool easily finds wireless signals being broadcast within range
inSSIDer is an free Wi-Fi network scanner for Windows Vista and Windows XP.
Wireshark
asleap

Well, when I started out with Metasploit I had the same problem while using ms08-067 against Windows XP SP2. The possible reason is the the victim machine is no more vulnerable(patch has been installed) or there is a Firewall enabled on the XP machine or there is a problem with the IP to connect back.
In my case the XP machine had patch installed and also Firewall enabled. I used some client side attack using SET to exploit the same XP machine and open a meterpreter session. The failure to create a session has nothing much to do with BT5, it's about what your target machine is.

'Python for Hackers' I just ran into this videos last week while I was googling for 'Scapy' stuff. Two videos, spanning around 1hr each. The content is awesome, straight to the point.
gets your hands on 'Scapy' too.

http://vimeo.com/24408094

Fascinated by the concept of packet crafting, I was just scratching my head about "Scapy" for past few days.
http://www.secdev.org/projects/scapy/

I am amazed at how powerful packet crafting can be against Firewall's, IDS and  some Wireless attacks. I was just wondering how often is packet crafting involved in real life pen testing or is there any one who use packet crafting as part of their job??

if you are not into any scripting language try learning Python.. it's easy, elegant and most imp' many security tools like W3AF, Scapy, SET are coded in Python. I think in OSCP you are expected to write your own scripts to automate stuff.
Dive into Python got a free ebook, good source to start with Python.