limbo - 9:17 am on Mar 23, 2010 (gmt 0)
That's a typical IA for blogging or news sites. Where the visitors expect the newest information to be at the top. They tend to use pagination for articles, viewing a snippet of each article, a dozen or so on a page. They also often have Category links, Monthly Archives and links via Tags so users can delve into the sites content easily.
I think on sites that contain a lot of regularly updated information, this system works well. No-one wants to see hundreds of menu items listing all the entries. Better to show 'popular' and 'recent' info at the top and offer routes to drill into older articles.