Ron Kass, CEO of Klostu, has given me a tour of the system and I now have a pretty good ideal of the complete package. The big picture is as follows. There are 300 million message board authors out there. In general, each message board requires an individual identity (author name, profile, password, etc.). In addition, none of these boards exist in a common, well defined infrastructure. Klostu aims to solve these issues.
Klostu offers a single web identity - like a board or blog profile with no associated publication. Your Klostu home page (here's mine) is composed of the now familiar drag-and-drop editable AJAX style page. Note that there is nothing here that prevents the addition of personal content - like a blog - in the future.
Klostu has formed relationships with a number of message boards (and plans to grow this number rapidly in the future). Participating boards install some active elements in their pages so that you can log in with your Klostu identity on that board. This then brings along your profile as well as a number of other standard board elements such as avatars and (in the future) signatures. Consequently I can create a single board identity and use it on multiple boards.
In effect, Klostu aims to position itself as the interface to the largest group of online identities (one might even call it a social network). If things take off, there are many potential benefits that will come to authors via a single identity. Note that there certainly will be cases were individuals want to maintain different handles in different domains.
Naturally, one also has to think through the monetization of this system. One obvious are which Ron discussed with me is that of advertising. With relationships with many message boards on the one hand and landing pages for author identities on the other, they would seem well positioned to funnel some form of advertising network content.
It is early days just now. I'm hoping that Klostu will start releasing some key stats soon (like number of users and number of boards registered).