There has been quite a bit of on-going discussion about MySpace scripts on other forums such as Digital Point. There really isn't a good self-hosted script out there. All of them have stability/support issues. You can read about them if you want. I think some of the larger hosted models are moderately successful, such as Ning.com. But they charge a lot because of the cost of building the platform and the need to get some return on investment. Mostly these hosted companies sell to large corporations who want to build communities.