If people are really interested in getting a Web-ring up and running, I am willing to host it.
Managed to download a JScript based Webring based utilities that will tie it all together, just waiting for a reply from the creator of said Software and I could start setting it all up.
Everybody that would want to join the link would have to apply and than add some code to their website to get it working.
Let me know what you guys think.