awesome paper, much thanks for sharing.
on myspace: i see what you are saying about myspace and the efficiency and innovation they are bringing to new media, although IMO there are a couple of big problems with myspace:
1. usability. a site that is as appallingly unusable as myspace is simply waiting to be defeated.
2. edge. i dont see myspace as really feeding the edge; everything is about sending traffic to myspace, and they seem to be quite trigger-happy with blocking widgets. fred wilson
commented on this in one of his blog posts a while back, and i agree 100%.
IMHO those two factors could cause myspace to fail no matter how much innovation they are bringing to the table in terms of new media.