Thanks! I think so too.
But... From what I've seen so far initial users will create a few images of their friends and then post them back to Facebook. But the incoming traffic from those Facebook links doesn't seem to get people signing up. So in marketing speak the viral coefficient is too low.
Here's an example of the landing page: http://www.memekit.com/im/d1bbe86c-3333-4d0e-bcf0-d0641c57b2...
I need to get more people clicking through to it from Facebook, and more people clicking "Start Meming" on that page. So I'd really love to here from HNers who have ideas.