I'd personally get a big kick out of it. Having an illustration every couple of pages always helps guide you through the story, in my opinion.
Then again, I grew up on those novel-sized kids books. Just about every 20 pages or so had a picture for the chapter at hand, and they always did the text justice.
If I could draw worth a damn, I'd have some pictures linked in EverWander. I've already attempted drawing Acied's flight form, and Sara's harp (remember, they're not from around here. Even their harps are different) but I can't draw for shit so I never took a picture/scanned it in. I'd LOVE to have an artist wander through here so I could snatch him and get some storyboard-esque images sketched up for EverWander.
That's just me, of course. A story COULD stand perfectly fine on its own - look at all the epic-length fics we have here already - but everyone loves a pretty picture. Or badass picture.