It was only a matter of time before someone made a 'Create your own MySpace' site and ning have done an amazing job. Not only does the site function like a dream but the sample designs they have created are really nice and you have quite a lot of customization available - such as the repeated background I have created on Creative Writing. You can also use firebug to find id and class names and then upload your own stylesheets.
I have created 2 networks so far - one for the company i work for which allows only employees and is a central pool of resources, nice sites, good reads and general things web and design. The second is an open network you're free to take a look at (and join if you'd like) which will, hopefully, be a resource for budding novelists. There is little content there so far but more is to come.
Thank you ning