[Lizard]

The more I ponder, I think projects are more like courses. Then you can use quick entry to just toss in a homework assignment. As you figure out what steps that assignment will require, you can actually create sub-actions. (Return to create a new action, then command-] to indent it.) That will let you set individual start/due dates on those steps, and check them off as you go. (Using the notes field wouldn't really allow for that.)

If you don't need contexts for geographic locations or anything, you might use them for concentration/creativity levels. Some homework can be done while supervising small children. Other homework requires peace and quiet and a fresh serving of caffeine.

But really, you might try just ignoring contexts altogether, until you find yourself looking at a task and going 'I wish I'd remembered this while I was working on that other task last night -- I'd have done this then too.' Then you can see if there's a shared context to carve out of that.