I rather like the recent McAlpine v Bercow case as guidance, as well as the novelty attached to most of the out of court settlements that took place with hundreds of others connected to the libel at issue - all be it that case concerned purely matters relating to twitter, (except for the settlements with the BBC and ITV) where the numbers of followers was a determining factor in the level of damages pursued by McAlpine. There will be, I am sure, twitter libels connected to our case, but most of the discussion so far has surrounded 'forum posts' rather than blog entries or twitter feeds.
But readership is highly relevant.
Sally Bercow was absolutely hammered precisely as a result of not following the sample advice you have suggested. It's a fascinating case, which the non Brits here might enjoy reading:
http://en.m.wikipedia.org/wiki/McAlpine_v_Bercow
The settlement with the journalist George Monbiot, was particularly novel. Here is his public letter:
http://www.monbiot.com/2013/03/12/my-agreement-with-lord-mcalpine/
Monbiot's position was practically identical to Bercow's, but by capitulating early, he saved himself an absolute fortune.
Anyway, potential offenders need to be aware both of the natural meaning of their words AND the innuendo meaning.