This idea is being played out all over the place. There are probably about 10 different versions of this type of thing. Google lacks pretty pictures, but it is fast. Essentially the user provides the content; the site is built in such a way as to allow the content to move and/or collapse. My favorite is netvibes.
These examples are getting better by the month. I see some issues but I also see some very interesting opportunities to improve on this technology. I’m sure you will all have some interesting ideas on how a user controlled content interface can enhance our sites.
How can this be more useful? What type of content would work?