When I say Comics and Books, I'm not distinguishing between comic strips and books, or the difference between comic books and graphic novels I'm saying that comic books and literary works have the potential to help each other out. Quite simply put, each has something that the other needs. Comics are easy to digest, and have the potential to capture broader audiences. Books have legitimacy, and have literally thousands of years of some of the best stories ever conceived.
Comics, unwittingly, were the architect of their own demise. Between the hokey comics of the Golden and Silver Ages of Comics, and the over-the-top muscles, boobs, edginess, and bad plot lines of the 90s, Comics are not seen as a legitimate. This is a perception issue, as Comics have also brought up some serious social issues. Green Arrow's sidekicks have both had their issues. The first Speedy had a heroin addiction, and the second Speedy contracted HIV when she was a child prostitue (before she became Speedy, of course). Tony Stark was an alcoholic, and had to address that in, "Demon in a Bottle." The Watchmen was allegorical of the dangers of when people in power go unchecked, obviously with the powers being literal, but that is how Comics best illustrate man's weaknesses. Even less obvious are things like the tumultuous relationships fathers have with their sons represented quite aptly through Bruce Wayne and his three sons, Dick Grayson, Jason Todd, and Tim Drake, each with their own own play on that father/son relationship. But perceptions are that, and perceptions are sadly stronger than reality.
People today want their literary works in easier ways to digest them. They want the to have what they are doing pop out at them. While there are some incredible works of fiction out there, they sadly don't have the attention of as many people as they should. Adding the artwork of a skilled hand can add volumes to the pages, and can make things much easier to consume. Think of what Dante's Divine Comedy, Herman Melville's Moby Dick, or Jane Austen's Sense and Sensibility could become when combined with art. It doesn't have to be that elaborate. Right now, Robert Jordan's Wheel of Time series is being converted into Comics, as had Orson Scott Card's Ender's Game and Ender's Shadow. It could also help bring other books into the lime light, such as Christopher Rowley's Bazil Broketail. New life could also be brought to works that are not fiction, like Plato's The Republic, or historical works like Joseph J Ellis' His Excellency: George Washington. That has the potential to bring to life works that would otherwise go unnoticed.
The next question is how it would best be distributed. A monthly book is more expensive in the long run, but is easier to digest at a time. Graphic Novels seem fitting, but most books easily surpass 300 pages of solid text. A Graphic Novel would be at least triple that, if not 5 times that size. Graphic Novels that are 1500-3000 pages long seems quite a bit excessive. That would also cost a significant amount of money to produce and distribute. It might be viable with eBooks, which would reduce a lot of the costs, but the point is to increase circulation and legitimacy, not push it to a currently niche market. Perhaps a compromise is in order. A twice monthly book with chapter releases every so many months, and a full chronicle at the final is probably what is best. That way, the smaller bites can be released at a faster rate for cheaper at a time, and popularity of the bi-monthly can determine the speed and quantity of the chapter books are produced, with the full book released as a special edition for only the most die-hard fans. It would be best to start out with a few popular books to gain attention to the concept, and to gauge where the market lies.