so i was applying this function to all the scripts where i had used dofile in the past. i find that it has the added bonus of being able to treat scripting libraries as mods and less like some random directory in the fs2 dir. so far ive been treating libraries mostly as stacks of lua files (stored in /libname/data/scripts) and no tables or other data, though it would be possible to include graphics and model data, such as bitmaps for a scripted gui. i think its somewhat of a good practice to omit any tables, and only include assets used by the scripting library directly.
scripting libraries themselves could be organized. using the function above in the main lua file of the library, you could run other files in the library in any particular order. going back to my gui system, this is useful, since i could have a lua file for each interface type the system would use. making libraries very easy to work with.
furthermore you could, with a minor tweak to a mod.ini file, keep local, most up to date libraries in a central location, and known compatible libraries locally in the working mod folder, allowing quick packaging of the mod for release as well as commit with svn. so i think i can say for now that this little piece of script can be very powerful indeed.