Peer Review Discussion

Taking on yet another angle of related to our past discussions about posting to the arXiv before acceptance, citation etiquette, let’s talk about the peer review process.
Here are some articles describing the current peer review process:

A quick guide to writing a solid peer review, PDF.
Nature’s Peer Review Policy
Refereeing Wiki Page

What’s your refereeing philosophy? Do you think there should be more guidelines to try to get more consistency in the reports? Or do you think the whole system should be more open?
I personally would like it be acceptable to post an early draft to a Facebook group (or a FB-like site) in order to solicit comments and discussion before submission. Please also share in the comments any links to resources you have found useful for guiding your refereeing philosophy.