I’m putting this idea “out there” to see if people are interested, because I think the more people involved the cooler it could be.
Instead of just posting the text of Dracula each day and letting people read and comment, I could create a separate Google Doc with the text and post the link to it, allowing anyone(?) to edit it. “Edit” includes:
Commenting
Enhancing the format/layout
Hyperlinking text to relevant sites
Illustrating (pictures, maps, your own drawings)
Thoughts? Should be open to all or should their be an official admin team to authorize users and undo anything inappropriate?
What would you want to see done with such a project upon completion?
Bite-Sized Dracula 
I’m not sure I follow (but then I’ve been missing a lot of tweets lately). Is this for the Twitter RTD thing like last year, or something else?
If it’s for Twitter, then I think maybe it’d be better to assign characters to specific people, and have them improvise and adapt the dialogue you provide. But that’s just how I’d do it.
This would be something else entirely. People could post their own comments, not as the characters (unless they want to).
It’s basically taking http://infocult.typepad.com/dracula/ to the next level by integrating all the contributions into the text and letting everyone play around with it.
I considered allowing people to actually alter the content of the story itself, but that sounds like a dangerous can of worms.