Russ,
 
The main problem I  see with your service is that it  is unlikely to sell
:-) True,  subscribing to  a list can  be a minor  hassle. But  writing a
check for $1.25 every month is also a hassle. You are unlikely to sell to
large groups of  users (like universities) that have  the local expertise
to organize the  same service. You don't have a  name and sales structure
like AOL  or CompuServe (and, if  you are successful, they  will promptly
implement the  same service, and there  goes your market). I  suggest you
make a careful  market study before investing any money  in this venture.
Note  that this  is  just my  personal advice.  L-Soft  doesn't have  any
problem with your idea.
 
  Eric