Online Games Website

I am considering to build an online flash games website. I've made some research, but still wanted to have your opinions,so I have few questions:
1. Is it still relevant to build a site in such a competitive niche?
2. What are the recommended providers for fetching the games (I know about myarcadeplugin)
3. Can you suggest a good Wordpress theme?
4. How would you Get traffic/monetize such site?

I'd say it is relevant just make sure the content baits the viewer in and then they will see something else and you are solid!