This would be an awesome feature, and I'd definitely mess around with and create different models , though probably not good enough that anyone else would bother with 
(like changing the poltergeist 3000 with a proton pack).
@MaJoR - That's a good point, a lot of Nintendo's GC games tried to make everything round, so it'd real easy to smooth those out while still keeping the original design.
Also it'd be easy to take assets from different games like taking the higher poly toon link from brawl and throwing it into wind waker - or taking SMG's mario and putting it into sunshine. And IIRC the high-poly models from SMG's FMVs are on disc, so, if we can convert them, you could easily enough swap them too.
As for how it would be done, I'm guessing it'd be like 3d ripper - having a bunch of little objects making up the models. It'd be nice if you could group them together into like a their full character model, or whatever, as finding all the pieces of a complex model and stitching all the small objects together gets pretty boring after a while.
And I think using obj would probably be the best, but also using a different format so people can edit whatever else they want to and to cut down on filesize (like Shonumi said, objs are big and 1 scene from a game like Dark Souls is enough to crash most 3d modelling applications on my PC, and that'd be a pain to upload/download a really big model pack). I don't know what other format would be best, or even if you had to make one up and make/use plugins for 3DS max/blender/noesis or whatever.
Anyway, it'd be a really neat option, and I know I'd use and am sure many others would as well - so yeah, definitely interested.
(like changing the poltergeist 3000 with a proton pack).@MaJoR - That's a good point, a lot of Nintendo's GC games tried to make everything round, so it'd real easy to smooth those out while still keeping the original design.
Also it'd be easy to take assets from different games like taking the higher poly toon link from brawl and throwing it into wind waker - or taking SMG's mario and putting it into sunshine. And IIRC the high-poly models from SMG's FMVs are on disc, so, if we can convert them, you could easily enough swap them too.
As for how it would be done, I'm guessing it'd be like 3d ripper - having a bunch of little objects making up the models. It'd be nice if you could group them together into like a their full character model, or whatever, as finding all the pieces of a complex model and stitching all the small objects together gets pretty boring after a while.
And I think using obj would probably be the best, but also using a different format so people can edit whatever else they want to and to cut down on filesize (like Shonumi said, objs are big and 1 scene from a game like Dark Souls is enough to crash most 3d modelling applications on my PC, and that'd be a pain to upload/download a really big model pack). I don't know what other format would be best, or even if you had to make one up and make/use plugins for 3DS max/blender/noesis or whatever.
Anyway, it'd be a really neat option, and I know I'd use and am sure many others would as well - so yeah, definitely interested.