From the site:
Revision3 is the first media company that gets it, born from the Internet, on-demand generation. Unlike aggregators, mash-ups, and user-generated video sites, Revision3 is an actual TV network for the web, creating and producing its own original, broadcast quality shows.
I haven’t had time to check out all the programming on this site quite yet but I can tell you that the Diggnation programming is really compelling because it’s based on the top of the pops from digg.com
Digg.com is of course the social bookmarking site that bubbles items to the top based on peoples’ ‘diggs’


