I've been thinking about this for some time now. I used to do a lot of computer animation, I sort of gave it up as I moved into doing prosthetics and props. What finally really inspired me to tackle this was playing the first episode of The Walking Dead video game - the style was perfect.
Normally when I do CG stuff it's all really hi-res, high poly count stuff and that's great for visual effects and computer generated characters and whatnot, but was just too much effort and work for a whole web series - the sheer amount of modelling and detail work was just too overwhelming to even bother thinking of it for more than a couple seconds.
So when I saw The Walking Dead stylized low(ish) poly stuff I realized it'd be perfect. A couple days ago I started playing around - just testing stuff out for the moment, I'm not diving right in too deep just yet. The first character I started with was Karl Wenham, seemed reasonable since I always wanted to do more with him but hate shaving my face and all to do the makeup. This way I just have to do the voice - which is sort of a muddled English/New Zealand sounding accent.
I've been debating as well about doing some very rudimentary facial capture stuff for the faces. I've been going through a few tutorials and as soon as I suss out whether it's too much work or not, I'll decide on if I'll do it. Lots of stuff to still think about. For instance, the whole story, but how many characters, locations and all the sets I'll have to build, so it won't be happening any time soon, but it will be happening - how epic or huge it might but, I don't know yet, but it'll be fun designing so really over the top characters too hard to prosthetic work at the moment.
I'll probably post about it every so often as I make some major milestones during pre-production.