As far as me not wanting to read stories of this nature, it's just me, I'm sure as I always wanted the "real thing" other than a story. Call me wierd, if you will but I am one that don't search out hard porn sites too, just not my cuppa tea, not that there's anything bad about it, it's just something I don't choose to do.
Now, as far as permissions go, I think CV has covered it pretty much, mods have no say as to what leaves the site in the way of pics and stories but my take on this is that "anything any user has to pay for to get here exclusively should not be used elsewhere" These permissions would have to come from Totem staff much higher up the ladder than mods, probably Rex or Herve, and it might even be a good idea to try to get permission from the said model herself to write such stories as I am sure stories were not considered in the contract the model signed here, so this might be something to think about, just as a precaution, mind you.
If you do start that blog site, why not look in to the affiliate part of VGHD too, might as well try to make a buck from it, and too you could have the short clips and whatever the affiliate package offers to post at your site.
And no, I am not your finacial advisor, just ideas to think about, if you can get permissions for the model stories then you might as well do some advertising to go with the stories and possibly earn a few bucks .... just thinking it might be something that would work well together.