I'm continuing to work on this. One of the big challenges is doing this in the face of the impending release of WotLK, level 80 and revamping of talent trees. Ideally, not only do I need to model a character in space (all of a character's elements) but I need to model it in time as well. All the analysis I did last year will be useless because talent trees will be different. Because of this requirement, it's a lot harder than "just grab the XML and shove it in a database".
I gotta think about this some more, but I want to be able to track characters in time, kind of like the Internet Wayback Machine.