It's interesting that you mention the idea of something in between a blog, a newsgroup and a peer-reviewed journal.  In some ways I miss the days when I spent a lot of time on sci.physics.research: there was a sense of community, but also a sense of seriousness, and I learned a lot of physics, especially at first.  

 Then somehow after a while things soured... or maybe I just got tired.  If I'd been feeling more energetic, I would have moved to change the policies to boot out certain troublemakers who became an enormous time sink: "energy vampires", as it were.  But around this time I got a bunch of grad students.  Once I got some smart people willing to put a lot of energy into creating [ course notes] and [papers] based on my seminars, messing around with newsgroups seems a bit too diffuse... sort of low-intensity.   

 I just want things to be intense, deep, and to get lots of people involved... but these goals conflict with each other, so I guess it's good to do lots of different things.  Graduate-level seminars on math and physics are great, but sometimes I want to talk to everybody!   I've got this "hambone" side to my personality.   I'm considering some sort of "moderated blog", and someone has offered to help me set it up. 

 when it comes to communicating ideas, there are lots of possibilities to explore these days, and most of them haven't even been tried.  Not everything is for everyone, but the best options probably haven't even been dreamt of yet! 

 By the way, Connes seems to have outlined a proof of the Riemann hypothesis based on quantum theory.  There are gaps, but the problem had always been a complete lack of any sensible approach.