Another posting that's been in the back of my mind for a while... two weeks ago, Robin Laws posted on his Livejournal about player-generated premises that he's using in his house 4e game. These are plot hooks for each character but the interesting part for me was the way they should be written: in the style of a TV Guide episode listing. These find their way into the game in a random order during play.
When I read the posting, it also reminded me of the pulp novel titles and cover blurbs that are written as part of character creation in Spirit of the Century, including the writing of stories for other PCs.
I'm all for ideas that make RPGs seem more like a cinematic experience. That's one of my preferred styles. I also like sharing the story creation with the rest of the group. This is a great idea that I'd like to try someday.