Yahoo Buzz will be similar to Digg, but will start only with a 100 sites allowed into the system. After the initial beta period, all sites that are accepted into the Yahoo Publisher Network will allowed to be added to Yahoo Buzz.
Yahoo Buzz is currently a blog with data on top keyword searches from Yahoo Search. Here is the current Buzz FAQ, but reportedly, this new site will replace the current Yahoo Buzz section.
Let's not forget that AOL's Netscape tried to go the Digg route with Netscape.com but ultimately failed.
Source: http://searchengineland.com/080218-093307.php
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