Well regarding an attempt to define “Literary Fiction” the best I can offer is to quote U.S. Supreme Court Justice Potter Stewart: “I know it when I see it.” Of course Justice Stewart was speaking of any attempt to define pornography, but the same limitation can, in my opinion, apply to trying to find a definition of “Literary Fiction.” To me it is some combination of quality of writing, development of a plot and narrative beyond the typical boilerplate (whatever the genre), and saying something new and important. I know it when I read it, but my literary fiction may leave others unimpressed.

Now “Classics” I believe can be defined as a book that holds up over a significant length of time, I would say at least a generation or two, while retaining broad interest and readership. So, despite what some here claim, to earn the title “Classic” does require the passage of some time to turn the book from one that is currently popular and highly regarded into a “Classic.” To tell if it is a classic simply requires that time. Well the Harry Potter books become classics? Probably, at least for children's literature. How about the Twilight series? I suspect these will not outlive the current 'young vampires in love' craze, but I could be wrong. Only time will tell.

A big reason I like this being one part of the definition of “Classic” and having classics as a category for book of the month selections is that it forces selection from a book at least a few decades for such months.

Just tossing this into this post, the Philadelphia Public Library has just added a large number of classic books (in epub) to its selection. Including The Tale of Genji (in English translation).