If this is implemented separately (i.e. an additional field on the user table for post_ids of favorite threads) from watched threads then you could also tie in a personal RSS feed off it which would be a nice feature. I have been trying to look at ways to encourage sign up as registered users and more importantly some special features for our "members" (a second level at our site). This seems like it would play into that nicely if you could offer it based on group.

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Herpeton
VegPeople.com