Only question is how old the server SW is, isn't it? Or conversely which tools are needed to do the conversions -- and from what? How many formats are there out there the tools would have to parse to produce a wide range of compatability, say, with 80% of the present installed SW?I think it's a great concept!! If it's standard XML, you're covered from random impulses causing obsolescence or veering into incompatability because its a more robust standard.
If you did it right and fast (or got the right techs to do it) you'd be able to lock in the existing music and MIDI tool manufacturers to use your parser/compiler to bridge from their tools. So there could even be some money in it maybe.
A.