Jim,
I understand the role of the 3-4 days period between posting is to prevent pushing down other authors' stories from the first page of the story board. At present, for example, there are 6 stories on the first page, from a time period of 2 weeks (the earliest story posting closest to the bottom is from Oct 7). If, say, NN S were to post ManGo updates every day (I don't mean any offense by picking her story, only it seemed she posted every 3-4 days so I assumed she might be in a position to have ready chapters to post quickly) and to each update there were 6-8 comments, other stories would disappear from page 1. It is especially true for shorter stories or one-shots (there is one now on the board). If it is pushed down from the first page, people might not see it (I don't often check beyond the first page unless I specifically search for earlier parts of a story I had not read before).
My other comments were meant not in favor of the spacing rule but regarding the other changes Rae Elaine proposed instead, if I understood her correctly.