Ok, I think a bounty site is a good idea and deserves a bounty. So to rewind I'll try again with original plan:
--------
Devcoin is about funding people and projects that create open source content. This requires time and effort as well as ideas and interest, which means putting visibility, know-how and incentive together in one place.

1. The site should be simple and attractive (with its own domain that includes ‘dev’ in it - to avoid confusion/conflict)
2. It would start as just a site that records bounties. Later it would be expanded to have categories with tagged bounties, so people could search by category. Bounties would automatically be added each round.
3. It needs to be a simple way of recording and tracking official Devcoin bounties only.
4. Maintenance and further development of the site would be funded through regular generation payments in the same way as devtome.

Longer-term (suggestions):
4. A rating system would be developed to increase objectivity and quality in vetting categories and projects of particular expertise.
5. Content management should be kept fairly simple to allow non-expert user edits. Actual admin of changing content should be open to reasonable discussion and consensus so it can always keep rolling with new manual content when necessary.
6. There would also be smaller bounties for any additional admins needed, particularly those who can demonstrate knowledge in fields related to available bounties and rating.
--------
I'll leave the amount for others with better idea of effort involved to suggest. I know dalamar's already working on something, but I'm not dalamar so seems ok to propose it...   I'll also contribute 500k of my own dvc if it's not objected to.