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Hi and welcome here,
First, as it has been said already, XOOPS will be highly dependent on external parameters/software (but if you plan to make such a site, I guess you already have somebody who knows that close to you).
Now, to answer your questions about XOOPS by itself:
0. Considering your objective, use the latest 2.0.x version as your codebase. There will be a clear upgrade path from this version to the next one (2.4.0) and the 2.2.x releases are quite less scalable, so you'll get more comfortable by doing this.
2. I wouldn't say any particular part has scalability problems, however several ones can/must be enhanced so you can reach you goal.
- The boot sequence (things done or launched from include/common.php) is particularly sensitive to speed enhancements as it will be performed on each page request, even if it does not actually have main problems.
- The output generation layer will have to be refactored (ie: it actually generates useless DB queries that could be prevented).
- The output caching system will have to be greatly enhanced too. It will also be a main actor on such a website and the actual one, if not inefficient, is too limited to give you a good control of your site caching policy.
3. We'll be publishing our objectives for the next major release really soon (within days/next week): changing the parts I talk of will be part of our targets, so to demonstrate what I said is precisely what I/we intend to do ;). I guess you will want to follow what's happening here before mid-september (and after... ), and we can talk again about your project soon.
But again, the success of this will depend on your server configuration, as well as on these XOOPS enhancements.
skalpa.>
Any intelligent fool can make things bigger, and more complex. It takes a touch of genius, a lot of courage, to move in the opposite direction.
Two things are infinite: the universe and human stupidity; and I'm not sure about the 1st one (A.Einstein)