Right, it would definitely be "private". Meaning, in #1 the reviewers would be a group of moderators who the community trusts through a "Friend DA". Not sure we are going to get some legal document drawn up, but basically the community knows the moderators aren't going to be sharing the early draft of a blog post with anyone.

The blog post only exists in the system for the submitter (reviewee) and the group of reviewers.

That's why http://tenderapp.com/ stood out to me, because it it's a support tool, so has this idea of moderators (support staff) who are the people allowed to view a private post.