Stowe and team are launching an initiative to coalesce and define social media best practices.
The goal is to "give publishers, emerging media platforms and individual participants an evolving set of 'Best Practices' to encourage open, democratic and transparent interaction. Further, to help participants who wish to engage with those platforms to know, at a glance, which aspects of the best practices they can reasonably expect to be applied to their experience."
Some good thinking and ideas here.