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Let me be clear - I'm not seeing any problems with implementation as it currently exists. I'm seeing the potential for problems with growth. You raise good points about tags; I don't use twitter so the whole "following of tags" thing isn't really where I'm at.
One thing I do do is craft a bunch of google alerts. If I were able to use my "tags" to look for certain phrases within people's text boxes, that would serve as well. Those who load their descriptions with a bunch of spam aren't as likely to be well-received as those who actually write something informative for the people who are just browsing.