I tried a few microblogging sites lately. I’d recommend having a look at those before creating your own - don’t forget Web 2.0 is much about mashing it all up, having a the social part, combining everything to make something new. At a quick glance there’s something positive about all of them. I see twitter as the current “big guy”, while Jaiku will probably get moving soon with big G in the back - however, both experience downtime when discussion-worthy mews with interest to many people come around (for example the release of Mac Air) and the question is how much they can take if the idea becomes a common day phenomenon..
If I get the time some day, I’ll have a look at the different API:s. Until, I may or may not keep twittering, and if I keep it up, will probably keep the box in the left bar.