After having recently discovered virtual tabletops over a week ago, I had actually begun combing the internet for what you seem to be describing. I, for one, would very much love to see something that's more of a cross between a virtual tabletop and multiplayer online RPG. Specifically, the option to choose between initiative/turn-based/story-driven combat, to an active combat system, similar to what games like Dungeons and Dragons Online and Star Trek Online have. I can't believe just how much I really enjoy a combat system of that type.
Further, it would be nice to be able to log onto the game and engage in a premade, automated quest while waiting for your RP group to log on, so you can then move to the more dynamic format of gaming with a live GM. Here, you and your group can choose what rules to play by, the story and context of the game, and the method of combat. With a live GM heading the group, players' decisions really do affect the specifics and even the ending of the story, as the GM-controlled NPCs can actually respond directly to whatever creative action the players attempt to engage in, unlike AI-controlled NPCs.
A multiplayer online RPG, like this, would no longer be the repetitive grind that wholly AI-controlled MMORPGs currently are, while also preserving what makes tabletop RP gaming so much fun: interactive storytelling and roleplaying.
So, to make a long story short, yes, I'd very much love to see what you come up with.