You made an interesting point about screenplays becoming their own literary form. I think this should be happening already. There are blogs for long articles, Twitter for shorter statements, and Tumblr for both long and short. If we make novels the blog and screenplays the Twitter (screenplays being shorter/leaner versions of novels), then there is space in the middle for another format for those whose writing style doesn't fit with a full novel/novella. We'd need a name for it too. How about Novus or Novum? Latin for new. Have you read my novum??? The revolution starts here.

How about we call it a 'TV Show'? :D

Brett, thanks for that. I've actually been toying around with trying an experiment on GITS whereby we analyze all current screenplay format / style elements, review each one per the necessities of a selling script with an eye toward a more 'literary' look and feel, and see what we come up with.

[...] Screenwriting requires it’s own style often depending on the whether the script is a selling script or a shooting script. Scott Myers details some of these differences and examines a few scripts for writing style. Let me preface my comments by making a distinction between a selling script and a shooting script... [...]