This kind of describes a free-for-all wire service, it will need quite a few Janitor members to keep down the spam and low quality postings.
Any thoughts in this direction will be cool
A whole lot of 'Digg' references here.
The reddit code is open source; it would be perfect for this project idea.
Thanks for reference. It will be great if you can think of some features for this. May be some body will find it interesting to implement. Atleast I will get some thing to play in my mind