Second, being an unofficial product degrades credibility by a lot; there's no reason why a user would expect to find messages for them on an external server. I imagine this as a disposable tool, like mailinator, in case some people want to trade emails or other non-public data without having to write here or disclose anything personal. Post and delete. For this specific purpose I do think its useful, but how much further beyond the audience especially concerned about privacy, I don't know.
Third, loading an external page in a frame can confuse and annoy users, so I think it's not a good practice. news.yc users might tolerate this kind of hack because they know what's behind it, but I can't say for sure.
Of course, if you have other thoughts/suggestions, do let me know, publicly or privately :)
Have you given any thought to turning this idea into something more? The withmsg.com domain name should work great for any site.