Sounds like fun but I'm not sure I like the concept. Each MM album has a consistent "sound" which would be lost with with different interpretations by different bands.  It might work, but I'm just scared it would end up as sacrilege rather than a tribute.

What I'd like to hear is 10 different bands doing 10 songs built around the bassline from Tab... - each one 30 minutes long and released on vinyl and 8-track.