I kind of do that on an individual level myself - http://www.ruffandtuffrecordings.com/SELECTIONS

Those are music picks I regularly update... It would be really cool if there was the ability to standardize the format for small web sites like this and then be able to follow others with similar interests... Pretty much reviving the old Myspace in essence, but with independent micro-sites for hosting curated links and other content from each user.