The delivery mechanism of this e-novel is indeed novel but the first three free e-mails did not make me crave the full three week deal. The idea is fantastic and not something I had heard of before. Early adopters are around though.
Most amateur writers who don't have the means or the desire to go the expensive agent/publisher route often toy with the idea of self-publication and retreat from the fear of plagiarization. This does seem to be a step in the right direction.
If a novel is serialized and delivered by e-mail the controls get a lot tighter. The author remains in charge. I think it would ideal to allow an extended sign-up period for readers to pay for the e-book and deliver to everyone at the same time.