It seems to me if a network of sites got together and adopted this it would work. I for one tend to submit on domains I have a hub, link list or blog on my index and setting up all the links one time on that index would be easy.
But like everyone else said, we'd all have to all agree to do it.
Personally, I'd be open to do it on all my link lists if everyone else in the group wanted to set it up.
It seems to me it would help out the link lists, and since you weren't doing a ton of identical link backs on a domain to the LL, might make it look less "spammy" to G. Not sure how it would effect back links though.