A great forum for bloggers is Independent World Community http://www.learntoearn101.net/2008/09/if-you-are-blogger-have-i-got-forum-for.html
How about this? You make the blogging forum and everyone whos replied to this thread must sign up and posts 5 posts It'll help you get started, and besides; if it catches on - you can be as competitive as the rest. Never, ever say something shouldn't be done because everyone else is doing it. - People still make search engines, despite Google. - People still make blogging blogs, despite ProBlogger, ShoeMoney and etc. - People still make Webmasters Forums, despite SitePoint, DP etc Sure there's big players at the top - there will always be big players at the top no matter what you try to do - unless you outta mind crazy. Because with the millions (if not billions?) of people on the net - you can bet that almost everything has been tried/attempted. So, go with what you want to really do - and work on it. Cause if you didn't try, you will never know Good luck man!
Thanks man, thats encouraging.. Actually, i want to have 100% adsense revenue sharing on the forum which i start. I will share it all with the posters. I will have to think more about it before starting.