The Greywolves supermod is the largest mod ever produced for SH3. And the topic describing it isn't even made an announcment! I vote for it beeing made an announcement in the mods forum
and here! At least until it's released.
Here's a link to the greatest free SH3 mod ever made:
http://www.subsim.com/phpBB/viewtopic.php?t=48914