I'm doing that already. I've forked the NAudio source code and it's ok. Nonetheless i think that Github, which is more than just a git server control, it offers more of a social coding network and brings more contributors to interesting projects, like this one. It offers a greater visualisation of changes occuring on all the differents forks with links to your commits hierarchy. The same for the code browsing ... The web interface of github is way faster / better then CodePlex.
But in the end, I'm not saying that CodePlex is not good enough but I'm just proposing you to take a look (whenever you have some free time) on GitHub. You might like it.
Here's a url to one of my projects source code browser : https://github.com/lvaleriu/bltoolkit
, all forks graph : https://github.com/igor-tkachev/bltoolkit/network
Valeriu