I think it takes some getting used to, I chat on several forums like this on topics ranging from hiking to car repair and find this to be a versatile format. A feature such as "Latest Posts" or "Last 24 hours of activity" might be helpful, however.
I also noticed on some other "bubble" blogs such as bostonbubble.com where forums were the primary format for discussion and seems to be working well for them.
I personally think it's a better way to process large amounts of posts/replies than a long, single thread. It's also a lot easier to search against.
Just my 2 cents (or my $349,000 house
"People get weak in the knees and say, 'Oh, I can do this. I love this'"