Well, I'm going to see how Capes goes as a Play By Bulletin Board game.  I'm currently fiddling around with phpBB here - http://www.curufea.com/Capes/index.php

Hopefully once I've got the programming and "instructions of how to use" worked out it will prove more popular than my rather vacant Baron Munchausen wiki - http://www.curufea.com/games/baron

Play by BB has got to be tough for Capes.  The flow of play isn't necessarily linear.  While there are moments where it is clearly one player's turn, there are other moments where multiple people have a chance to act.

This could make for some pretty slow play.  Of course, I'm biased.  I don't like this sort of role playing in general because of the slowness.

There's no denying it - it will be slow.
But as I find myself and my friends getting older - it becomes increasingly difficult to organise everyone to get together - this is one solution.
It also helps for folk who can't find players for face to face games.

I did toy with the idea of enforcing the turn sequence - but I think it is better if players work it out for themselves.  You could start a game with ground rules set that responses must occur within one day of the original post - or they forfeit their turn for the sake of speeding up game flow.

It's not really a replacement for face to face games as such, merely an addition.  In one years time - a year will have passed, whether or not you were engaged in an online roleplaying game :)

Check out the Play by Post game that I played with Tony and a few other people:

IC:
http://forum.rpg.net/showthread.php?p=6104596

OOC:
http://forum.rpg.net/showthread.php?p=6267856

I'm actually thinking Universalis would be better suited for a message board - Capes is better for chat rooms.