I agree completely, and I think it will happen too.
The "clearly defined list of files" part isn't much of a problem, but the "set locations" part is trickier. I for one would welcome some authoritative guideline, since right now there appears to be more than one correct way of placing files.
I think this is a good idea.
<edit> I think Shivan and Turey are converging, and I when they do I will follow suit.
We've certainly started working together, but I still would rather have one Offline Installer, and one Online Installer, and one Online Updater which will work on both of them. That's the goal we're currently working towards.
Maybe if Shivan and you could give me some way of contacting you in a faster fashion than PMs? Perhaps the Hard-Light IRC channel?