I’m very excited to hear that the creators of Wikipedia* are to move into news. Even at this early stage the demo of Wikinews looks like it could be very useful, with ‘citizen reporters’ able to report, edit and discuss current events. The discussion of the site itself makes particularly interesting (if bizarre at times) reading.
More comment on blogsperiment.
*Wikipedia is already a fantastic online resource for those wanting an expert and up to date encyclopedia. One of those ideas that makes the most of the net’s potential, it’s a free online encyclopedia that anyone can edit, so of course it evolves over time and with people’s additions and corrections. Less well-known are sister sites Wiktionary, Wikisource, and others accessible from the Meta-Wiki page.