From the about page:

CiteULike is a free service to help academics to share, store, and organise the academic papers they are reading. When you see a paper on the web that interests you, you can click one button and have it added to your personal library. CiteULike automatically extracts the citation details, so there's no need to type them in yourself. It all works from within your web browser. There's no need to install any special software.

There's an option to create groups of same-interests likers, maybe we could create a Lambda the Ultimate group to share interesting papers. Most of the Lambda papers are already referenced here.

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Along similar lines....

Not sure if anyone else has stumbled across it yet, but google is beta testing Google Scholar, a search engine that indexes just academic type papers.

looks more like...

This looks more like a special-purpose version of with enhancements for academic citations. Given the current popularity of, I'd say it's a promising model...