I'd say it's definitely worth bothering! Look at how many PC-based Catweasels have been sold for the exact same purpose.
I have a Catweasel and like the fact that I can easily and reliably read/write Amiga disks using a brand new standard disk drive rather than one that's 10-20 years old...
Good luck with your USB drive project - if you complete it and can provide a driver to allow the drive to be used as DF0: from within UAE/E-UAE/WinUAE, you've got yourself a customer!
- Ali