[Monitoring highly redundant operations]

  Indeed. We currently monitor each part of our operation from a monitoring
  station on our network. Under certain conditions, this can give us both
  false positives and false negatives:

Umm... Keynote?

I find it truly amazing that people don't already diversely
monitor. Hell, have cronned pings running off your friend's cable modem
if that's all you can afford, but for christ's sake, a single box colo'd
in someone else's cage, or a shell at shells.com or nether.net really
isn't that expensive.

Fighting the war against bad networks,

Matthew Devney
Teamsphere Interactive

Might be interesting to define a set of basic monitoring functions
that independent ISPs can run on each other and share results. Early
warnings could go to a special email.

Concillience <http://www.concillience.com> already provides this as a third party service. They have located agents on a variety of networks world wide, and are able to provide both real time alerts, as well as longer term trending information. Their data collection service has the ability to track things like "Network X has low throughput to Network Y.", and similar kinds of issues. Keynote goes part way to a solution to this problem, but, IMHO, doesn't go far enough.