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That idea will combine the suggestions from myself and 
Richard, I guess. Sounds fine to me.
The GUI design needs to handle the case where there are 
many "canned" queries though, so after reaching the Search 
page there could be a "Load existing" link that brings up a 
selection page listing all queries by name and owner.
Then upon selection of one the Search page is populated 
with the selected query spec and the name is entered into 
the name box *if* the owner is the current user. Otherwise 
the name is just given as info somewhere (non-editable).
So the owner can the easily modify the query.
One problem that might pop up down the road:
If a user creates a lot of queries his sidebar might get too 
crowded with all of the query names on top. Could it be 
possible to show all the user queries in a combobox in the 
sidebar and below it a link to the last used queries?
Maybe keeping a last used list with direct links to a fixed max 
like 5 or so, and if the total is above then display the combo?
Just some ideas....