I don't think I browse twitter well. I alternate between your two choices, depending on how long since I last checked twitter.
I would like something like 'circles for twitter' so that I could check close friends and family tweets quickly, then kill time with lower priority/higher volume users if I want to.
I never used Megaupload. Never saw their site before the takedown notice went up, so I don't know anything about their business model. But where did they get $50M in assets? I have seen the number $175M as a subscription revenue number, but how did they rake in that much in subscriptions? That's a huge number.