I love the idea and am anxious to try this (sorry I missed your original post; it appears you have gotten a lot of good feedback).  I will consider myself part of the "second generation" of testers!
At first look it appears to be something that just might give me an excuse to use Twitter more than once a month.  LOL

I have a bit.ly account.  Can I configure this client to use MY account when converting URLs?

I have been using WAVE for quite a while now for:
Collaboration
Brainstorming
Archive of images/ideas
Maintaining personal notes and TODO lists

Now, I admit it is NOT the perfect tool for every job.  I use Tungle.me to schedule meetings and RememberTheMilk.com for TODO lists with deadlines/notification and git for archive/retrieval.
But I do find more of my data stored "in the cloud".  Google Docs provides an outstanding alternative to [overpriced and overrated] MSOffice.  I have even drifted away from OpenOffice in favor of GoogleDocs.
Picasa provides a great alternative to Photoshop; with online storage built-in

One day I will wonder how I can survive without an Internet connection (and Google).