...but it took you to decipher the users requirements and see this as a possible solution to their needs! - many of us have used multiple moodles based on the same code base.
1.9.10 has an imsrepository feature hidden in there but it's hard to use in a reliable, secure fashion.
it will be interesting to see what people come up with using the new Moodle 2.0 repositories - I'm sure there will be a few people using them for SCORM objects.