You can create checklists, create and track changes between instances, diff changes between the master and instances, create iterative checklists, embed checklists in other checklists and set dependencies. Also the interface was built with usability and flexibility in mind.
I have also added task, data list, comment, contact and document management since all of those are necessary for a good process management tool.
My inspiration for this was the fact that process and workflow management is a pain point for individuals and small businesses and there have been no easy-to-setup, user focused solutions out there.
I will be putting up a directory of public checklists in the near future, once the rest of the product is stable and usable.
I was waiting to post this but until I was ready to open signups but I have working on it for the last 4 months.
Email me if you want to be a Beta user: daniel at chcheck dot com. There are some bugs but it is definitely usable.