piclyf sounds more than that, very good idea! Good luck with it.
Oh and a friend of mine were just talking to me about ideas on shared photos some days ago. I think you should think if you have not already did it, about very interactive stuff on photos like deformation, alien head transformation, mini games... I'm not expert, my friend is. People really like to share photos. Good luck again.
Oh and, the "photo-blog your life" works well to me. =)