Related project: Primeiros povoações dos Açores

George, are you reading my thoughts? I was trying to do something like that yesterday, at the project http://www.geni.com/projects/Imigrantes-de-Portugal-continental-aos... Not exactly the same, but I was trying to identified which settlements are in which isle. hehe

As it was "not exactly the same", I wanted to be ahead of you :-)
But, I think it's OK to have the two separate, as I think you suggest that users would use the coat of arms to identify old ancestors (and possibly attach ancestors).
Of course, ultimately, we could merge them, but I think they can be nicely part of a master-project on the Açores. In fact, we should probably also have a "sources" project for the Açores. My obvious choice for an initial set of sources would be the links that are provided on the government web site of the Açores - http://www.bparah.azores.gov.pt/html/bparah-arquivo+regional-docume...

If I may add... The nature of your initial project was more about migration from Portugal to teh Açores. My guess is that such migration was not totally "chaotic", but came in majority from specific areas in Portugal. I think it would be interesting to establish somewhere which Portuguese areas were concerned by this small "exodus". I've seen places in the Alentejo to be part of that. Identifying those areas would amount to the kind of work André Claeys has been doing for Bruges and Flanders (identifying where the Flemish settlers came from).

Interesting note here... http://net.lib.byu.edu/fslab/researchoutlines/Europe/AzoresIslands.pdf
It suggests that the settlers on the islands of Santa Maria and Sao Miguel were "almost wholly from the Algarves". Given that this was the earliest wave of (re-)discovery of the island, you would expect some strong Algarve blood in Azorean ancestry (and, by extension... Arab blood?)

Very interesting!

By the way, the about 150 freguesias of the Açores are now in the list of that other project. I'm wondering if we should split it out per island as well? Because, per freguesia and even per "lugar" there are also many ancient housing clusters that have names that may have a lot of genealogical significance.
The Açores are really so interesting, because you basically have a huge migration stream coming through a pretty "narrow" spot. So, it may be worth the effort to drill down to even the smallest, toponymical places on the island, and then map the oldest ancestors to it.
Just 'wild' thoughts :-)

Na ilha de são miguel tem um sotaque tão parecido com o francês que é motivo de piada em Portugal, https://www.youtube.com/watch?v=qlAm3HfGUX4