Were I to do this (and it is looking like I am going to LOL! With help, hopefully a lot of help!) I would like to have the ability to review. Reviews add another dimension for a reader when they are searching and as Simtopi suggested, each story having its own post (perhaps submitted by the story creator?) would save on hurt feelings of "why is my story not good enough to get posted!" and only leave the "why is my story not getting reviews?!" option, though I believe there are ways around that as well (just as soon as I work out how to articulate the vague concept I have there properly so I can expand on it and explain.)

Perhaps a middle ground though. There is a way to make this work, I'm sure of it. I think it just needs more discussion.