There's also a project I'm working on called ScummGEN (http://scummgen.googlecode.com) which has unfortunately no release yet.
The project is in a very good shape though, as a lot of features have already been implemented (check out the wiki news updates for some more information). I'm starting to work on editors and I plan to have a final product very similar to AGS.
You have a very cool idea and I also can't wait for something to come out of your idea.
Making your project similar to AGS will, IMO, make it easier to create Scumm games. Scumm may be dead to Lucasarts but not to their fans.
In fact, I like how people are creating editors to create games in old game engines such as AGI, SCI, Scumm, etc.
My first taste of Scumm was in 1992, my grandparents bought me a used Commodore 64 and it came with Maniac Mansion which is a game that I love even to today.