I is for (Free) Internet Content?

I is for (Free) Internet content.

I have a question for you. I am toying with the idea of posting short fiction online--for free. Does anyone have any experience doing this either as a writer or as a reader of short, free, fiction? Did you post on your own sites, or is there a communal site you recommend? Do you read short stories online and if so, where?

I'm toying with a couple of ideas.

1. Creating a separate page on my blog for very short stories.
2. Creating a separate blog for very short stories.
3. Grabbing a couple other writers by their hair and making them join me. (Or asking them nicely if they would care to--haven't committed to an approach just yet.)
4. Find a preexisting source that already does all of this and has a regular readership. (Hence my questions to you.)
5. Letting the whole idea die a slow death.

Advice oh wise ones of the Internet?