I don't think you're going to get people to pronounce your site "poe-uh-three".
If that was your intention you might want to rethink the name. I read the name as "poh-three", which frankly meant nothing to me.
One reason I like it is that it is very short. Even with random alphabets, four letter domains are hard to come by. eg: www.poe3.com/123 (123rd poem), www.poe3.com/jeswin (my profile).
Collaborative Poetry: http://en.wikipedia.org/wiki/Collaborative_poetry
Collaborative Haikoo: http://haikoo.org/explore/