These review sites convert like crazy and using Wordpress and a slick plugin by Dan Grossman makes them pretty simple to setup. It's not like a review site where you give your opinion about 3-5 similar products and create a Buy Now link for each one (which is also a high converting type of site).
The reviews on these sites are actually from customers of the products (or services). The example given on the Review Site Plugin page is a review site for web hosting providers, but it can be for virtually anything. You can go very micro niche on these types of sites. You could have a review site for just Windows Hosting Providers for example or Hotels in Windsor, Ontario, Canada (that one is mine). It took me a better part of one day to put that together.
After you have decided on a product or service you need a theme. A one-column theme works best. Then you create the categories. The row of buttons/links across the top are links to each category page. Click one and see all of the products or services for that category. A product may be in multiple categories.
On the actual post page is where you will put the description of the product. In the comments area is where a past customer of the product leaves their reviews....or a customer that returns after purchasing it through your site, or in the case of my site...booking a hotel room online.
It requires some tweaks to the theme files to display the results of the reviews. The comments display like they normally would but the the ratings are integrated into the theme files. You decide before hand using the review plugin admin interface as to what you would like the customer to base the ratings on and what the maximum values are. It's pretty flexible. The software will then calculate and display an average of the ratings. It will also determine by the ratings if it was a positive or negative review and add those up as well.
My review site is very new and there are very few reviews but it has already seen conversions from natural search. I started running ads on Google's content network yesterday. In general you want your reviews to be unsolicited but it is sometimes beneficial to offer something in return for reviews and post an ad somewhere...just until it starts to fill up a bit.
As one of the prizes in the KwikStart MMO Contest I will be building a custom review site for any niche of the winners' choosing. I'm still trying to find a sponsor to create a custom theme for the review site though.
If you decide to set one of these up and run into any snags, leave a comment and I will try to lend a hand. If you like the hotel idea (and trust me it works) and you want to set one up for your city, I use TravelNow.com as the affiliate in case you are wondering. (same company as Hotels.com)

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May 20th, 2008 at 11:10 pm
Nice timing on the post!
I am just about to start a web hosting reviews site and was just about to start on a design and figure out how to pretty much do exactly what this plugin does!
Thanks for the post, you just saved me an a**load of time
Jarrets last blog post..Setting Goals
May 20th, 2008 at 11:22 pm
Glad to hear it! If you have any questions along the way, you know where I’m at
May 21st, 2008 at 10:25 pm
Thanks for the link. I will definitely give this a shot. Looks like it could be a great solution.
Good blog you got going here. Keep em going strong.
Nick Reeses last blog post..Introducing One Minute Take-Aways
May 21st, 2008 at 10:38 pm
Appreciate it Nick.
June 6th, 2008 at 2:48 am
I love this idea.
I was thinking to give it a try to for the hotels for an european city, but i was wondering if there isn’t already to strong competition: venere.com , tripadvisor.com , globalhotelreview.com .
In your opinion is it worth for a well known european city ?
ciao
alexander
Big Bloggers last blog post..Win 3 iPhones with Upstartblogger
June 6th, 2008 at 11:00 am
Hey Big Blogger…
I don’t think that any niche or any product or service would be impossible. Some are easier than others, granted…but if you look at the Keyword Niche Market you can tackle any niche (IMO)…Maybe I’ll make a case study about that shortly when I’m not so swamped…check out the linked videos in the post to see how.
Thanks for the comment.