This is really cool, I had a similar idea last year but it only got as far as registering a domain (auctionyourtime.com--nothing there...) and building a prototype over a weekend. The primary reason I ditched it was I just didn't see enough money there (for the business) and also thought the auction prices would end up too low to attract quality people to put their time up for auction. Are you going to stick with the "one at a time" format you have now? Really cool concept because I for one would happily pay a lot for quick access to experts on certain niche topics. (Currently I just cyber-stalk experts and offer money if it makes sense...)
This is a great concept. I've been bidding on time here for the last couple of days and the stability of the site has improved a lot from when I was first using it.