I like thread based systems (like slashdot), but I predict the rating system will be misused (more so) on a political blog format as commentors will rate on their own conservative/liberal affiliation as much as on the merits of a given post. To work (better) in a political format you would need at least a conservative scale AND a liberal scale. and the registered commentors would be registered as either conservative or liberal moderators, but not both. Eventually you would need to weed out liberals that were trying to 'poison' conservative's ratings and vice versa.

You only have to type in the name and email if you are not logged in