So the idea for this add-on is based around polls.
1) Users must be able to nominate new entries (maybe via a form or email?)
2) The moderators and administrators can then approve the nominations before they appear on a list. The list of nominations should be available to members so they can see what has been nominated.
3) The add-on should support multiple categories for nominations. (limit the amount of nominations per category? categories could include movie/music genres, car/bike models, sports etc - the mods or admin must be able to set this up)
The rest can be done manually but it would be nice if it can be part of the add-on.
4) After X weeks/months the list(s) must be converted to a poll
5) Allow each member to cast one or more votes per category
6) Leave the poll running as long as you want. Take the top 10 from this first poll and create the final poll. If it is a yearly poll end it around November so you can run the final poll during December.
7) Allow each member to cast one vote in the final poll.
Having a Top 10 running could bring in more traffic. Think “facebook likes/recommends”
I think it will be a nice add-on for any community dealing with specific topics.