After ranting about porny classics and the suckitude of bad erotic fiction I wanted to post a recommendation for a well-written erotic novel:
Tiffany Reisz' THE SIREN
Caution for BDSM themes - though I am pretty vanilla and I enjoyed this book.
It's a series with book 2 THE ANGEL coming in September, and book 3 THE PRINCE coming soon.
The author also has a website where you can sample read a whole bunch of freebie stories related to the SIREN universe.
http://tiffanyreisz.com/storytime/freebies-sextras/