Interesting idea. I know that Shimano's new power meter pedals can be converted between 3 types of pedal types by doing what you described. I could theoretically see doing this going from my Gravel bike (summer) to my velodrome bike (winter), but realistically I just use SPDs for everything. Can't say I lost any races because I don't have road pedals, its more of a motor problem in my case. ;-)