I think it could be done. Personally I've already got all the games, but what I would like to see is one long single game that included all the others as well as a little extra here and there to fill in some gaps and whatnot.
I actually played around a little before with companion's pic converter to see just what it would do and I converted some sq5 screens to ega. But after coding the black cauldron, I don't see myself ever remaking another sierra game, only my own. But like I said, if someone else would like to do it, I would be more than happy helping get and keep the heap space under control.