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I agree that we don't need a module, per sae. I think what we need is to provide links to each other (using partners block works fine) It is also easy to open up a webring and place the webring link in a custom block on your 'front' page.
I have this already on one of my non-IT sites, see
http://fbctogether.orgI guess from this point forward I will offer my site:
http://eirenicon.org/index.php as a place for people to signup. Under the Communications button header, you'll see a place to sign-up.
I'll also try to form a webring... watch for an announcement here.