Virtual Module module idea
I had an idea (a long time ago) before about developing a module that allowed you to create "virtual modules".
How this Virtual Module module would work is after installing/enabling it, you would use it to create a "virtual module" object to be stored in a table in the database. This table might contain virtual module id, the name of the virtual module, whether or not it is enabled, and possibly some other information. Then you would add code for any drupal hooks supported by the Virtual Module module, which would then be stored in another database table, associated with the "virtual module" you created. That table might contain a hook id, virtual module id, hook name, hook code, and whatever else might be deemed useful or necessary. Then when a hook in the Virtual Module module is called, it will check the database for any "virtual modules" that were created and enabled, and then run any associated hooks from the hook table using the eval() function.
Now this would be limited, since not all hooks could be supported in this way. It would also have some performance penalties by increasing database usage and running more code through eval().
But maybe there would be some benefits to a module like this? Maybe it could be used for real quick module prototyping, or quickly testing ideas, by eliminating some of the overhead of initial module development. It could even be used for generating the text for a real Drupal module, using the code you've already written for the virtual module and it's hooks, so you could just copy/paste it into a file.
Hopefully I explained this well enough.
Any thoughts?

=-=
sounds like the idea behind module_builder.module ?
I can't say for sure as I've not tested it.
I just looked at
I just looked at module_builder. All it does is allow you to generate a skeleton (empty hooks) of the module you want to create. It doesn't seem to give you an interface to write hook code in, nor store the code in the database to be run. However, the code/text generation is very much how I pictured a Virtual Module module to work, where it puts everything into a textarea, and you just copy/paste it into the .module and .info files.