Why not pour the effort into Mono or PyPy? Or for the more exotic end, Nemerle, F#, Rust, Mirah, maybe even trying to make Haskell more practical.
I've gotten a bit jaded, and at this point, there are a ton of new languages competing. I don't want to pee in anyone's cereal, but the 'next generation' language might be better found as a 2.0 of an existing effort? Especially if you're not introducing really new concepts and you're trying to get people to actually use it.