Other than the temptation of assigning everything to you? ;)
Yes, I like the proposal. Although I would make a more complex setup, separating it on:
* Knowledge areas a revision may be touching (identified by a regex) * People with a level on each area * Revision scoring (so instead of passing without reviewing, you can tag it with the expertise level you guess is suitable for that revision) * Notifications for users/area/level (opting-in for revisions of level > 0 to an area, mean being notificated of every change) * Special page listing pending changes by area, sorted by complexity.