Are you familiar with Lawrence Watt-Evans (http://www.watt-evans.com/) and what he did? He calls it a reader-supported online serial (http://www.ethshar.com/thesprigganexperiment0.html). The way it essentially works is that he asks for donations and when the donations have reached a particular point he posts the next chapter. Both The Spriggan Mirror and The Vondish Ambassador were written that way before they got moved to print media. You probably already know about it, but I thought I'd mention it just in case you didn't.