Damp towels hanging on a rack seem to get musty in the area where they contact the rack. Which makes sense as that spot has the least air circulation.
Would have thought this would an instant hit on google, but no.. heated towel racks for sure, but not vented.
It would have a central perforated tube to distribute air, radial fins running the length of the tube to support the towels (or other articles) with minimum contact area,and a little fan in the end. And some kind of stand, or attached to a wall, naturally.-- afinehowdoyoudo, Dec 21 2010random, halfbakery