A few thoughts....
All features could be combined. The author, story title, and first line (excepting those weeks when the first line is the prompt) from all of the prompts posted during the week leading up to Fridays feature, could be shown. And then, one story from the group could be featured. Although singling out one story in this manner will be more contrasting, may seem like a contest of sorts, or even appear harsh to some, it is reality, as it is already being done off-screen anyway and we're all aware of it.
As Valkyrie says, it is very thrilling to be the author whose story is being featured. It was exciting as all-get-out the one time that I was featured, and Trebs (Robert) will always be remembered by me for having done so. I wouldn't like to lose this feature of the prompts and have an author miss out on the feeling of accomplishment that being featured provides—especially to newer authors who make the cut. How exciting!
On the other hand I certainly realize that reading every story (how else to choose the best - though I do realize that variables may apply when making the final choice), would take up more time than using the list, and combining both ideas would only take up more time.