How to fund BoingBoing?

Beloved blog Boingboing’s Mark Fraufelder announces that John Batelle is going to advise on the revenue/strategy side and calls for comments from readers–there are over 250 responses so far.
Seems ot me that there are two related questions here:
1) How can BoingBoing cover its costs?
2) Should BoingBoing try to profit from the current commercialization of blogspace? As blogs develop traffic that outstrips some “big media” sites, advertising revenue, transaction and subscription revenue all become real possibilities, and yet BoingBoing, one of the “older” success stories in blog space, was not built to print money in the same way that Gizmodo and its cousins might.
Obviously, BoingBoing has some great options–some immediate scenarios that come to mind are:
1) Find a backer and launch a refurbished web business, with print extensions(John and Mark, I have an idea on what you might do here that I bet you haven’t thought of) and other spinoffs if possible.
2) Link with a publisher looking for more web properties and/or for the BoingBoing demographic, and then follow #1.
3) Work the hell out of monetizing both the site and the audience, as much as you can without driving people nuts–and focusing on higher CPM ad assets that don’t add clutter, Build a revenue base, show growth as a business case, and then do #1, with far more control over the product and the business (have some thoughts on this one, too. guys both on the revenue and the business case side.)
Summary: BoingBoing is great and should benefit from its own wonderfulness…If I can be of any help–let me know–but hey, getting John B will be an amazing asset for you–congrats.