I'm going to do my review in narration form, because I can! =P
Clicking the link, I find myself in a splash page... thing, which I personally don't enjoy. The technicolor title, ads, and grey gradient are simple, without feeling clean or sharp, and I'm given the impression that they exist only to push ads onto the user (drive viewers away). Ads should only come with content. If you must keep it, you'd want to make it look nice, and match the theme of the inside of the site.
On the way into the actual site, I note that the header is incredibly large, and pushes most useful content off of the screen. Why a cell phone?
Scrolling past this, I read a few posts on a blog format, and notice that the MyLot page seems to have lines of text without caps, which seem to be titles or subheadings, or something. Bullet points? They don't have any different formatting for normal text, and so throw me off. Clicking on the title to bring me to the full article doesn't improve anything, and I also realize that you're including the full articles on the front page. It makes it... rather tall.
...but even if those weren't making the page tall, all those widgets and ads on the left would make it taller. Sideways text makes me disinterested.
Overall, I would try to place the ads more tactfully. Same with the wigdets- move them somewhere else, or leave them. Your own content should be enough for the site, anyway- why use other news sites? You can always write a blog commenting on them if something interesting comes up