I loved it, it's a really good idea. The biggest difficulty with it is, like a couple of other Snakes said, is that some members don't stick to it; forget about it; or disappear from SS. We've done it for two terms now, both times being partnered with a First Year Newbie, who RP'd with me once and then I never saw them around the RP again... (Granted, I didn't RP much last term, but I was still on the look out for my "Slytherin Sidekick", which is what we're named.
)
The idea is brilliant, but I think it would work much better if it was extended to the whole school than just within one house.