Have You Been Publishing Online?

For a long time now I have stood on the outside wondering where people go to read and write fan-fiction and other online fiction resources. I know that there are large numbers of people writing and reading online and that a number of recent best-sellers originated from serial-writing that gained mass audiences online before finding publishing.

A couple of days ago I stumbled upon Wattpad. I don’t read very much current fiction unless someone like Neil Gaiman is writing it, so for me this is completely uncharted territory. My question for those of you who keep up with current fiction trends is this.

Have you used Wattpad or any similar services, either as a reader or author?

What’s have you found is the best format to publish novels or other works in a serial, read-as-completed kind of format?