Interesting idea but the URL is hard to communicate to someone in real life. Also it just looks like the top stories are all from Hacker News. Think about why would someone go to your site rather than the source (HN)? What makes you different?
Unless I hear differently, I'll count this as a "continue to stage 2. Do not develop along these lines any further because I can't see you adding any value to the user"
Thanks for the feedback!
Listen to what jacquesm said and go more off the beaten path. I check Digg, Reddit and HN occasionally so your site wouldn't be particularly useful to me, but it could be with a little improvement.