ReyRey,
How many free sites do you have out there?
I think..if I were to start a LL it would be well after I have a load of free sites under my belt. I'm not sure what a "load" would constitute though.
I'd probably start off the LL as a niche LL of content I like to see.
The more focused the better because even if you have a few uniques per day if I make a 'teen female with glasses' site and that's your niche then all your surfers are more valuable (to webmasters) than a general LL.
How will you get us to add you to the ever growing amount of lists?
Maybe, after you have the domain and branding and niche down, and some of your own free sites to pepper the vigin list you can go on Overture and AdWords and announce on the boards you will be spending $1000 on
very specific searches for your niche.
Announce it a week before you go live with the PPC advertising on all the boards and you should get a lot of submissions and a fair amount of traffic so everyone wins.
If you do it right and make a nice list that is updated often you should land surfers that bookmark you and happy webmasters.
Just random thoughts....