A personal page service that allows you to choose what and where you add content, isn't new, but when it just does that, then it quickly provides more than the others, with more freedom in the what (you add) area.
I recently finished work on a plug-in that provides personal page functions, so I appreciate the value of WebWag, it is very impressive. Both functional and usability aspects are good. This type of product is capable of easily expanding services and functions as well.
You can add pages that appear as tabs at the top of the page, rename the whole area, add, move delete the boxes that correspond to the different functions and content that appears. I didn't find a way to edit the way the page looks (colours, font size, column width, page width). Also it could be me, but I couldn't place search anywhere else but in the middle column.
The system is impressive however and I think it will only get better...