Look at the Chilean paper, Las Ultimas Noticias, and there is little reason to believe that "the masses are going to seek out the most well-investigated, well-verified, well-written and overall best stories to pass on to their peers".
Entertainment rules -- and while I suspect that this model may attract a lot of attention, and probably a lot of revenue, we may rue the day that it was launched.

I think the role of the editor will grow dramatically as newspaper.coms shift from just being content producers to content screeners, both writing about and identifying the best and most important news of the day.

In fact I talk about the importance of this in my article on online video and newspapers because I think it will be one of the key differentiators. http://kevinjmireles.wordpress.com/2006/08/03/newspapers-online-video/

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I'm a therapeutic recretion specialist at Isabella Nursing Home in Washington Heights in upper Manhattan (515 Audubon Avenue & 525 Audubon Avenue buildings, New York, NY 10040). About 3 months (or more) ago I had requested that your company provide Isabella residents with this newspaper and deliveries were made on fridays to bother buildins (100 copies each ) which were then distributed to the residents on the various floors for their reading pleasure. for the past 6 weeks i've noticed that no more deliveries have been made and that a newspaper bin was place on the street across from Isabella which i guess is for the community to also have the pleasure of reading HOY as well. he problem with this is that the kids turn the bin, destroy/burn the newspapers inside it, etc. and the newspapers are not used/read by those who are interested. please be so kind as to resume your weekly delivery to Isabella as initially agreed upon. Should you need to get in contact with me you can do as at 212/342-9450 or via mail. thank you.

is there another news

As one whose day is filled managing the content on one of the largest user generated sites on the internet, www.NowPublic.com, I can tell you the role of the editor will not decrease but rather evolve as the chaos factor does. The editor will no longer be the one who determines what the public should know but rather the one who organizes and lays out the content for the reader (as a collective body) to determine for them self. With access to powerful search engines and the ability to find content which relates to readers' interests through tagging readers will determine what they should know and the editor will simply help them find it. On NowPublic.com we employ a simply formula which combines the popularity of an item with a flagging system to sift through the content and bring the good stuff to the top. As a result of this, even though sometimes it's the Paris Hilton article which gets the most views it's not necessarily going to the front page unless it's also good stuff (which is hard to imagine but not impossible).