Based on the amount of times this has cropped up, and the amount of times it's worked - this has a 0% chance of success.
The first thing that won't happen is people won't join and upload their games. This is not a matter of site quality, advertising, or anything like that - it stems from the mindset of your average hobbyist developer. If someone wanted one of my games on their website, then they could either email me and ask to upload it, or they could ask me to upload it myself, then I'd say no, or ignore the email.
Take a look at what http://www.caiman.us do. They actually find a lot of the games themselves, email the author for permission to upload, and review the game, then the developer get's feedback by user ratings, comments etc etc. See that's a service that is quite cool to be a part of, it's a website with hardly any advertising (less than here as far as I can tell), yet it's been going for years.
I think you need to come up with a more diverse plan, like ways for the developer and yourselves to benefit, make money, get feedback. It would be great to get people onto the site who don't visit gaming sites, maybe you should start a fun upload service. Like people can upload a song they've made, a picture, story, movie, game - but all user content, no piracy - kinda like youtube for creative people to root around in. You can excuse some advertising on a site like that, and the visitor turnover would be huge, imagine people being able to upload screenshots, movies, and downloads for their games in one place, but with the casual gamer traffic thrown in. That's how I'd look at it at least, better not see you on Dragons Den with my idea LOL.