I like this idea. It seems like it's related to another idea that I've always liked but never seen in practice: assuming that the code checked in always parses,

I like this idea. It seems like it's related to another idea that I've always liked but never seen in practice: assuming that the code checked in always parses, you can re-lay-out code style (indentation, tabs/spaces, line length) according to the individual developer's preferences upon checkout, and transform them back to some (arbitrary) standard upon checkin. Git can handle this sort of thing with smudge/clean filters.