We are in the process of setting up a web site, Such sites are are great for visibility, but any thing on a public site, is public. Our thought is to have a section for stuff we cut, and another for thoughts about writing.
It is nice to have a place to point prospective publishers to. Giving them samples of your work.
As to self publishing, it is viable, but only if you have at least a thousand fans that will buy "anything" you publish. For the rest of us the publisher provides the distribution network that gets our work in front of the public.
All of our stuff is published on line, but it is in a magazine that requires subscription to see the whole story (about 2/5ths is available for free) we get paid, the publisher gets paid, and the readers get the story.
Regards,
Kevin