It will be interesting to see what Tor's fiction/social networking site is like when it launches, and whether it bears any resemblance to what's being suggested here. Obviously it will be for Tor authors, rather than independents, but it might be interesting to see where it succeeds and fails.
MySpace (much as I hate its design and its ownership by Rupert Murdoch) does a good job at promoting up and coming musicians (at least it does in my home town, where there's a thriving live pub music scene and much of the promotion happens on MySpace). Perhaps something similar could work for author/reader interaction, since its a version of "word of mouth".
A lot of science fiction and fantasy writers hang out on LiveJournal, though in a semi-anonymous sort of way. Some of the people I've befriended there because I've seen them commenting in my friends' journals have later turned out to be writers who I've heard of but not associated with their screen names. I've often gone on to buy their books because they come across as interesting people.
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