This one is really interesting, mostly because the manuscript tracking software actually looks very professional. Pretty slick, modern, "Web 2.0" look. The web site is also a level above the typical scam site in terms of polish.
Now, I can't imagine how this is really useful to publishers. Who are these "expert readers" at Creative Byline? The web site seems to be mum on this subject (unless I missed something). If the service was actually proven useful to publishers and authors, how could they possibly keep up with the flow of material. Do editors really trust what other people think? Publishers get enough material without having to go search some database for it.
I'd love to hear the story behind the publishers who have supposedly signed up.
Finally, let's look at pricing. It is $19 per submission, not per manuscript. Every time you send your manuscript to an agent through Creative Byline, it's another $19. That can get expensive. Creative Byline justifies this cost by saying that it's comparable to printing out a hardcopy of your manuscript, but the query/sample process already negates most of that potential expense. You're pretty far down a path with a publisher or agent before you're sending off a full for review (and that will often be electronic these days anyway).
Obviously, this fee contradicts the principle of money flowing toward the author. More worrying, is Creative Byline sharing this fee with editors? Are the names they have in their roster such as Tor Forge and St. Martin's Press suddenly becoming fee-charging publishers?
It will be very interesting to see what becomes of this. For now, I'd consider it a misguided effort by a fairly skilled web developer, but I want to hear what's the deal with the publishers who are supposedly on board.