How would one set up a new library? Set up a flickr site. Thats it. Put up a flick of each book. Perhaps you could even add the isdn # in the comment or whatever (Dewey?) but the readers would do it from there on. They would manage everything else, sets, comments, tags.
Has it been done yet? Let me check.
Not yet in my Google search. What about a wikilibrary. A sort of amazon flickr 43 things wikipedia that has every book in the world, tagged, with a discussion group and so on. Then a physical library could add they have it, that is it! They could use it for their checkout system.
And what is a physical library? I would add my books happily, borrow by email.