Wow, ha! How funny that I have been beginning to think along the same lines as your design.
I've also been staring at my bike for a year+ waiting to move forward with it.
Now that farfle is making custom 3" extended lowers for the rear suspension for my wally/kent Genesis I have been brainstorming with a similar drive idea.
(I know it's a wally bike, but it's the lowest cost frame that is close to a stinky (what I'd LOVE to have but is too costly for me), ...and by the time it is ready to ride the only stock parts left on it will pretty much be just the frame and rear suspension shock linkage. If I do a left hand drive from the rear lower, the stock peddle/chain system may stay... 'till it breaks)
I'll be watching!
Ebike: Wallmart Genesis frame, unique Lovejoy 2-speed simplified/redundant drive mounted on custom aluminum swingarm conceptualized by me, machined by Thud. Brushless 80-100~100kv w/halls, 16s6p - 59.9v, 30Ah, 1.7+KWh, Fully Loaded Lyen 12 FET 3077 controller w/ Cycle-Analyst, full custom lighting.
Thanks to Justin at ebikes.ca for saving ES!
Ideas and projects by GITech are protected by: http://creativecommons.org/licenses/by-nc-nd/3.0/