The new Encylopedia of Life site is now up as of this last Thursday. Haven't had much time to check it out yet, but so far it boasts about 30,000 species, with one page devolted to each specie. They expect to have another 1.7 million within a decade. In my opinion,however, our known species will probably near at least 2 million. So many invertabrates that have yet to be discovered.
It's maintained by an international group of scientists and was spearheaded by E.O. Wilson.