I have a suspicion that episode 2 is going to have some very imbalanced discussion.
I think what kills the series is if you guys aren't relatively at the same point each episode.
Regarding trading/battles: Even if its not recorded I think it would be cool if you guys held out on "online" play until you both reach the credits or something.
Imagine how cool it would be to be to have the day you guys break media blackout be an event. Like boom! Episode 4 is live, and you're officially both going to break your blackout at the same time. Especially with the internet features(that I'm surprised neither of you brought up) I don't think this is unfeasible.