Two thumbs up for reddit. First of all, I’m sure you will get a boost in readership from the digg meltdown yesterday.
More importantly Alexis just told me about the upcoming release of sub-reddits. This feature can be added to a blog so the best posts (or at least the most popular ones) are always accessible from the front page. Here’s an explanation and example from Joel on Software. I’m guessing that you will be able to restrict the domain in order to keep all links specific to the owners blog.
Check it out and keep your eyes open if you would like a sub-reddit of your own.