Yeah, MIDI is bull****.
Idea is very good..but there are many problems now :

1) note length.
You can add in your library different tone durations, but in tabs there is not rhythm, just tones.

2) tone
You must record much different tones.

3) pull-offs, hammer-ons, bends, harmonics, tremolo... you'll need two lives just to record all that :)

4) all that will be hard to transport on the net because of file size, sound files are big...

BUT if you do record it, I will make program :)