There so many linux distros out there, I don't think we need another one! But, for the porposes of learning and enhance your knowledge of linux and how it works, its definitly a good ideia. Hey good look with that, your distro may be sucessfull there are a philosophy behind it, goals, target people, fill some gaps that others distro don't (I can't see none now...).
I heave a few advices for you:
1 -> Install ArchLinux set it up a, make everything works, tweaky somestufs.
2 -> Compile a custom kernel.
3 -> Install Gentoo set it up...
4 -> Put your own LFS up and running.
5 -> Then make your distros.