I'm thinking IPS needs a FAQ, because people keep coming to meta with the same questions. I feel IPS is different enough from most of the SE sites these people are used to, that we could use a FAQ to clearly explain how IPS is different, what we expect from answers, questions, comments, and everything else you might be able to come up with.
As an example of a FAQ, take a look at the one on MSE. It's divided into several topics, each with their own questions and answers. Lets take that as a format for our FAQ too.
At the bottom of that FAQ, it describes the process of making one, which will probably work for IPS too:
Is your question not part of the FAQ?
First look at questions tagged faq-proposed to see if there is a question not in this index that might have the answer you seek. If you still can't find an answer, then see the following instructions for proposing an FAQ question.
How can a question be added to this FAQ?
Ask only the question, stated plainly and simply, in the question body. The answer goes in an answer.
Flag for a moderator to mark community wiki. Any FAQ post not yet community wiki should be made into a community wiki.
So, I'd like to ask everyone to start writing FAQ-proposals using the above mentioned method and/or post their ideas about what should be in our FAQ in an answer here. If you do post an answer, please limit your self to 1 idea per post, this makes giving feedback on specific proposals easier.