Public Reading - Revisited

Halley Suitt points to Mary Hodder who writes about needing to devise a new scheme of ranking blogs as the current methods (Google pagerank, Technorati, et al) are all flawed in some way. I commented on Mary's posting and brought up my public reading proposal that I posted back in May. I have still been thinking about it and am actually in a mental preparation mode prior to posting it to ChangeThis. I will use Mary's excellent summary to help fine tune elements of my proposal. If you have thoughts on this problem and possible resolution, I am interested in hearing them. Together we can come up with a solution.