Digg is the new Slashdot
On the downside, it seems to be picking up slashdot's religion/mob mentality as well: linux/apple/mozilla good, microsoft bad. Which I generally tend to agree with, but only on specifics, and not as a given.
Also on the downside, the ads on digg suck. They are google adsense ads, and they appear to have the worst targeting I have ever seen. For a site that has the traffic that digg has, they must be losing money hand over fist. They should have their own ad engine. I'll bet their CPC is something like $0.15 -$0.25. They should be capturing $0.50 or more.