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How could we improve on this?
[Anyone who wants to do the following is welcome to; I've too many startups on the go already.]
Imagine something like Reddit--with each list being a "subreddit"--but:
A. there's no time-weighting in the front-page algorithm (though there is a "new" page); and
B. there are robust mechanisms in place for preventing duplicate entries from being created, and merging duplicates (along with their votes and comments) into the canonical versions.
Additionally, since the lists created will be far more static, you might want to give people greater influence over the ranking system--using http://en.wikipedia.org/wiki/Cardinal_voting_systems, for example.