The should totally work - especially if there's enough budget for your 10 hours/wk to go towards OpenProducer or other complementry open projects. Even for bespoke solutions, we can encourage clients to let us build their sites in the open (this should be the first proof of concept). For the indie music/arts vertical, open development actually could create exposure and promotion.. if we incorporate apprentices and such, it could lower their costs. And ya, if there's a radio network or record label with a large budget... it sounds like we'll be able to get the job done however they want!
Chris - I'm passing the torch to you with some very general questions. Assuming there's enough budget to sustain your time 1) how much time per wk/month could you foresee putting into this effort; 2) with regards to the roles outlined, would it be ideal to have a few goto people who could commit a regular amount of time to act as leads?; 3) knowing my desired role/time commitment (and yours), what roles do we need to fill if we're going to first focus on building sites for stations using the D7 platform we already have.
Those are very open ended questions that come to the top of my head right now...