on good literature

How about this: Good literature is a combination of good writing and good storytelling.

I've been thinking about this for awhile, debating what makes good literature and what makes more low level romance novel trash. I can even divide it up into a Frye-like graph

bad writing/ bad storytelling: the prose is terrible, simple, unintelligent writing. The story sucks, meaning numerous things; the plot is underdeveloped or there is no plot, characters are flat, themes suck, etc.
EX: romance novels

bad writing/ good storytelling: The story is inventive and engaging, but the writing is elementary, language is bland, etc.
EX: Tom Clancy novels, Twilight series.

good writing/ bad storytelling: Writing is exceptional, smart, clever, educated, but story is not at all interesting, and/or especially difficult to the point of confusion and loss of interest.
EX: I know this is heresy, but I want to put Portrait of the Artist in here. I think Joyce is a brilliant man and his writing is far superior to most people, but this book was so boring and uninspiring (in my opinion) that it really wasn't that a good story. Joyce's earlier stuff in the Dubliners was much better I thought because those were actually some decent stories. I would like to put henry James in this mode as well. good writer, but not that good of stories.

good writing/ good storytelling: writing is intellectual and challenging, etc., story is engaging, engrossing, enjoyable, etc.
EX: Don Quixote, Shakespeare.

I came up with this groundbreaking theory in my capstone class where we are looking at non-Shakespearian renaissance drama. There were many other good playwrights in Shakespeare's time, and some of their plays were just as engaging and inventive as Shakespeare's, but it is easy to notice a difference between Shakespeare and his counterparts and it lies in the one-liners and soliloquoys and the way someone can say they're in love. In essence, the writing is was seperates Shakespeare. So then I got to thinking that this combination of good writing and good storytelling could be the key to defining good literature. Obviously much of this rests on reader's opinion still, but all attempts to place value on literature has to do that to some extent. My theory is not perfected but it's getting there.