I do think this is a rather good idea. Keeping it Square-related is my personal preference. There's just one thing that I do see to be somewhat of an endeavor.
Our assembly knowledge.
Before we got all these wonderful GUI-based programs to allow us to insert sprites into Final Fantasy VI, someone had to have the knowledge to know what offsets are where sprite data is stored and how it is executed. This just being one game, many other games are programmed differently of course.
So when a new game emerges in interest to the ROM hacking practice, I don't know if we all, at the moment, have the skills to "look" through a ROM, identify what something is, what an instruction is saying, and modify to our needs (i.e. spriting as that seems to be the most popular on the site.)
With all due respect, I believe our community is primarily sprite-based. This isn't a bad thing, as the spriting community was kind of what rooted this idea of other games (i.e. sprites from Fire Emblem, Saga Frontier, Breath of Fire) but what I'm saying is that save for Angelo, Gi Nattak, and you Zeemis, we really don't have a whole lot of ASM hackers. I know I'm not and won't hide it heh. I'm confident beyond anything with events but ASM is like space to me.
I believe the best skill a ROM hacker can have isn't smart use of a program, the creativity and shading of his/her sprites, or even the quality of their ROM hack, but the ability to scan a ROM, find what you're looking for and interpret what the code is saying, and modify it to his/her own needs/wants.
This is a good idea principally-speaking, but I don't know if we'll be able to hold through with it when someone asks "I want to change the damage a staff does in Breath of Fire."
I support it, but only verbally as I can't ROM hack.
Best of hope though. And this site is still my favorite ROM hacking site regardless.

xJCSx
MAJOR EDIT:
I'm sorry Zeemis, I didn't see your reply from your first post. I do agree on the spriting thing. Spriting wise, it'd be neat, but I don't even know if anyone knows how to insert a sprite in another game, or if there's even a program to insert one...I say ASM scanning comes first before spriting as that's how we draw, edit, and place a sprite in the game.