I always feel like I missed out on a pretty exciting era whenever I read about Usenet. I envy those who have strong memories around comp.* and wish that I could have been a part of it.
You're limited to the reddit clients; you're limited to what admins allow; and you're limited to what mods allow.
Or you could download INN and set up your own local group for you and your friends.
http://www.eyrie.org/~eagle/software/inn//
(Perhaps INN isn't the best server to start with! Maybe Diablo is better.)