As far as I'm aware, the features are the same as Metafilter: trackback; sidebar with new posts/comments since last login; general metafilter-like prettiness; an rss feed in case we're prolific enough to need one; and best of all, no admin go-between for posts. I'll be adding a tech/bug-related category to the topics as I have on the original mofi rather than make a separate MeTa-type page.
Testing, testing, etc. There's a test metaphilter mofi up. Please go ahead and try it out, let me know what bugs you find, what you think of the colour scheme, and so on.