I like this proposal a lot. It marries the free-wheeling nature of Wikipedia with a peer review process, and makes sure that the benefits of peer review flow back into Wikipedia.
The people selecting Wikipedia articles for publication on the peer reviewed version should be called "reviewers" rather than editors and should get a link to a page where they can describe their qualifications.
We certainly need a better name than "Wikipedia subset". I propose something involving "Peer review", a very positively charged term. How about "Free Peer-Reviewed Encyclopedia" or "Peer-Reviewed Wikipedia". Not overly creative, but descriptive and clear.
Axel
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