Is MySQL replication suitable for a Write Mostly application?
MySQL Replication would probably victimize you in terms of Replication Lag.
If you run SHOW SLAVE STATUS\G on a Slave whose Master is write-heavy, the data you need to read may not be ready to read on the Slave until the Replication Lag (Seconds_Behind_Master) is 0.
SUGGESTION
If you want reads available on a Slave as well as on a Master, consider using Percona XtraDB Cluster. It does synchronized replication so that the same data exists at any point in time on both Master and Slave. It does not require binary logging or MySQL Replication. In addition, you can use a LoadBalanced DBVIP against Master and Slave to distribute reads.
The only drawback is that this might produce slower writes.
Provided all data is InnoDB, mysqldump backups can be done against the Slave using --single-transaction.
Here are my past posts on Percona XtraDB Cluster

Aug 20, 2012 : Best solution for cross-datacenter MySQL master-slave replication
Jul 25, 2012 : Scaling Percona datacenters: setup and replication
Aug 26, 2011 : MySQL Master/Slave Master/Master setup?