Safe, I hate to admit it, but I think you're on the right track.
In fact, I've already done your idea of using a 7 speed gear hub with the exact motor you pictured. It plows up hills, and when I get my shifter attached, I anticipate that it should go about 35mph on flat. (lots of wind resistance in design) I already love the thing.
I'm going to put pictures and video up soon.
As soon as I'm done, I'm going to be trying to do exactly what you're describing.
My next project, will be modifying a CVT transmission to maximize the effeicency of the motor. I plan to remove the weights that make it "change gears" and control the gearing with a microchip.
I read your discussion, and I think you only need sensors to get two numbers:
1) The speed the bike is traveling
2) The gear ratio it's using
You can work backwards to get the motor rpm from these numbers.
The mph can be found using a hall effect sensor like speedometers use. The microchip will be controlling the position of the cvt using a stepper motor, and it will constantly be moving it and keeping track of the movement.
I agree with you that using gears that span a 300% range should suffice for all situations. So, by that thinking, you don't need to concern yourself with managing the electric current. For example, if you're going up a steep hill, the microchip will start downshifting until the motor is running in its peak effiiency, and it will chug up the hill. As long as it has the proper gear to work with, it should adjust automatically to avoid the overcurrent situation (or you could just limit it).
I think the easiest way to do this is to use a 2hp motor, and a controller that will max-out at 1 1/2hp. Then just don't worry about it.
The program would work in two stages: When you first accelerate, it will be in the lowest gear, and the entire acceleration will be from the motor. This would last until about 15mph. Then the motor would stay at a constant rpm, and the bike would spped up by adjusting the gears (CVT).
I was going to suggest that this is a "gear based throttle."
This process could be entirely managed by the microchip. In fact, I plan to just a on/off throttle. You push the button to go faster, and release it to coast. The microchip would manage the acceleration, it wouldn't just "floor it." It would incrementally increase voltage when the bike is ready to go to the next speed. There could easily be a cruise control button too.
My dream scenerio would be to use this motor:
<a href="http://www.thunderstruck-ev.com/sailboatkit.htm">Mars Motor</a>
which should be about 90% effient to start with. Use a 60 amp controller, so it would never break a sweat. That scooter would go forever.
Now all I have to do is build it! (I haven't even posted my first project yet!)