This is an awesome idea! Is there any way to create a randomized list weighted with popularity (so for a given tag you can refresh to find new links, but still ones likely to be interesting)?
To your question, yes I am currently testing some ideas for a magic ranking system. One option is as you say a kind of random select amounts popular or trending links. Another is a smart weighted sort when filtering by multiple tags. One problem is that right now if you add jQuery to your filter, the javascript results are going to just dominate everything else.