reddit did something like this. In the end, due to the frameset, the URL for bookmarking would be hidden and make bookmarking with delicious or your browser cumbersome. Though it does give you the ability to participate in the community more. I like the bookmarklet idea as it would preserve the URL and the original layout of the page as well and it fits well into the model of opening all of the articles you are interested in reading in new tabs and then upvote/comment as you see fit without intruding on the article.
