Graham Priest discusses The Liar's Paradox for a NY Times blog. It seems that one way of solving the Liar's Paradox is defining dialethei, a true contradiction. Less Wrong, can you do what modern philosophers have failed to do and solve or successfully dissolve the Liar's Paradox? This doesn't seem nearly as hard as solving free will.
This post is a practice problem for what may become a sequence on unsolved problems in philosophy.
I'm highly sympathetic to the intuition that the liar sentence is devoid of meaning in some important respect, but I don't think we can just declare the liar sentence meaningless and then call it a day. Because in another respect, it definitely seems meaningful. I understand what a sentence is, and I feel like I understand what it is for a sentence to be true or false. If someone wrote on a blackboard "The thing written on the blackboard of room 428 is false," I feel like I would understand what this is saying before I went to check out room 428. Hence I must understand the sentence if it turns out that we're in room 428 already.
Also consider the Strengthened Liar: "This sentence is not true." According to your solution, that sentence should also be dismissed as meaningless, right? But surely meaningless sentences a fortiori aren't true. But that's precisely what the sentence asserts, hence it is true.
If it's meaningless, it doesn't assert anything.