Short story summaries can be a great blogging idea if you do it correctly. This summary of "The Cask of Amontillado" is a good example of what I am talking about. The entire site is dedicated to just one story, which has its own risks and rewards. If the story is popular enough then you are likely to see some traffic. On the other hand, if it isn't a popular story you are stuck - so choose carefully.
If you choose to do multiple stories then you run the risk of google not being able to decide exactly what your site is about and ending up with multiple 0 rank pages.