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I think overall it works well but i had two thoughts to make it alot better.
For one rather than just having one massive inbox of messages i was thinking sort it kinda like facebook. (I know everyone doesnt like facebook but the system works well.) That way its sorted by conversations/topics so basically ever subject or even every message with a certain person can be viewed in a separate split really easily.
It would look sorta like this
Also it would be nice to have a separate place for "saved messages" ie messages that you want to look at later that had useful information (like the one i have in my inbox about jiberish sizing)
just my two cents other people throw their ideas in here too.