Then, there is another related update from Bill Roberts: Delivering Linked Data quickly with which I wholeheartedly agree.
To take the entire stuff a step further I tried to outline the overall problem in a short slide deck (best viewed full-screen ;)
My hunch is that 80% of the stuff is already out there available (such as Atom, Changeset vocabulary, voiD, etc.) and only minor pieces are missing. Next step would be to hammer out a simple demo and gather some more experiences with it. In case you are interested to chime in let me know :)