If you're in the Bay Area, a tech-blog-sponsored confab/brainstorming session on journalism in the web era is tomorrow:
http://www.techdirt.com/articles/20100526/0142359581.shtml
Might be relevant to your concept, which I'd also be interested in discussing further if only there were contact info in your profile.
I unfortunately don't live in the Bay Area. I live in Sacramento, and have had the pleasure of going to the Googleplex, but unfortunately couldn't make it there.
Thanks for the link, though.
I know how to do the site, front and back. I know how to host. I know where to host. I was simply looking for feedback on those questions as well as some general feedback on the idea.
And I will do. I'm a long time lurker, and this is my first post.