Bloghosting - Advice please
 

I hope this is the right forum for this, if not please feel free to move it to the newbie section :)

I am thinkling about setting up an adult blog hosting facility at one of my portals.

My questions to the board are:

1. Would you do it? If not, why not?
   
2. Would you set up categories for users to choose from? Would it be better to have many categories or just the 'main' ones?
   
3. Would you
   1. charge for the service
   2. put ads on users' posts
   3. make it completely free
4. Would you monitor posts
   1. manually
      1. as and when they are made
      2. occasionally and randomly
   2. automatically with word filters/blacklists
   3. not at all?
5. Any further advice you might have.

If the feedback is not too off-putting ;) and I decide to go ahead; I hope to get this up and running by mid-November and would like/need a few "beta-testers", both experienced and novice bloggers. Would anyone be interested?