Interlanguage extension

Some time ago, I made the Interlanguage Extension for MediaWiki ( www.mediawiki.org/wiki/Extension:Interlanguage ) with the aim of easing the work with interlanguage links by enabling a multitude of wikis to use the links from a central site.

I have then started a discussion on Meta ( http://meta.wikimedia.org/wiki/A_newer_look_at_the_interwiki_link ) about whether such an extension would be acceptable and I believe that it is generally welcomed by the community.

I wanted to further flesh out the extension and make a few additions, however, in the meantime a Wikipedian opened a Bugzilla request to activate the extension on Wikimedia projects ( https://bugzilla.wikimedia.org/show_bug.cgi?id=15607 ) and so I am bringing the discussion here.

Do you think that using this extension on Wikimedia projects is feasible? Do you think that it would work while using less (or at least not significantly more) resources than the current way of updating interlanguage links by bots?