I agree, I think the current admincp is purposely simple to avoid problems, so adding a more complicated one is taking a risk. And if there are people who like it and would pay for it that's great, but I don't think I'd pay for something that didn't add any functionality and was only visible to admins.
Installable outside of the vBulletin webroot if desired, even in a subdomain.
I LOVE this part of it.
But still, I don't know how I feel about a 3rd party admincp modification. It's such a touchy area, I'd really want to leave such a thing for vB themselves to make if they so wished.
friendliness is the whole point for doing it. A lot of my vb freelance work is for clients who ask a lot of admincp questions that us seasoned vb users know, but people just starting out are hard pressed to understand.