new module: TAXONOMYNODE ??

Folks,
I wish to associate one node type with another. In my example, I want to have a EVENT node be labeled with a VENUE (i.e., a place like a restaurant) One way to do this would be to permit/enforce that a node type of your choice must be uniquely tagged against a term in a taxonomy.

Thus in my case, I could create a taxonomy of venue names, and associate terms in this taxonomy 1:1 with nodes of a flexinode-generated VENUE node type. So when a user enters a new event, they could select a venue from the taxonomy of venues (or add a new venue). Thereby a venue gets associated with the event, using the taxonomy.

If you constructed this module like the locations & events modules have been constructed (using the nodeapi, I believe?) then you could enforce this connetion between 2 nodes of any type.

Another example use I might imagine for such a TAXONOMYNODE module would be:

Entering a music album node, you are forced to select an artist from the artists taxonomy. The artist taxonomy is associated with the ARTIST node in 1:1 fashion.

I might imagine one issue with this is that some of these taxonomies might get huge. I'm sure there are other issues.

Does this sound misguided? Any alternative solutions for forcing an association of 2 nodes w/ one another?

THANKS!
Dado