GLBSE should have been a black market operation, no offense. The fact that the founder is known and visible and that the exchange is centralized is a big red flag.

Also, the GLBSE in its current incarnation doesn't work well with anonymity, as there were a number of scams and scandals that were the result. If you could solve the scamming problem, unsanctioned and unauthorized business will have a place in the world. Other than that, a GLBSE is not a good idea.