I was working on similar project while ago as well - actually I had it in beta testing but somehow I stopped working on it. Dozens of sponsors to choose from, possibility to list your own free sites and adding trades.. ohh and of course setting up custom site name, descripion, keyword and few other neat things.
Well.. I didn't found out how to profit from it
I was considering 2 scenarios:
a) % of banner displays would have my affiliate id
b) top hfs listings would have my affiliate id
If I found a group of interested webmasters I could get back to it...
