A lot of people have said it already, and it is something I have been considering doing for a while, but I would look to put together a dream team of 'faces' for regular columns and reviews.

I would leave tutorials out of it.

I would give these dream teamers 90% of the advertising revenue that came from their content, the theory being that together they can achieve more than individually, reserve 5% for additional project funding and take 5% myself, plus the revenue from the non-author specific pages.

Finally, I would try to get together enough revenue to fund a small web service to try and provide some connectivity solutions to developers to more easily link blogs together for whatever purpose they required. A mini opt-in network.

(You can leave me out of the draw to give others more of a chance, I just liked the question :-))