Theoretically speaking could something like this be pleasing to play. A campaign with nothing but stealth and solo dogfights dipped in an intriguing storyline. Transcend pops to mind as to what the missions would look like. I wonder if its doable.
This would be interesting to play, although I am not sure how well it would be received. I wouldn't call Transcend's missions stealth at all though.
One problem with a lot of "stealth" missions is that they are far too easy, as they have the player just going through the motions without really doing much. As IPAndrews said, it's hard to cover a large area effectively with enemy patrols. Last I checked, there was a limit on the number of waypoints and you can run into it quickly in a mission like this. However, this can be worked around if you require the player to go to specific spots, as you can then concentrate the patrols around those areas.
The other issue is that if you actually manage to make it challenging, such missions require a very different approach to the game than what most people are used to and you will find widely varying opinions on their difficulty, with people either loving or hating them.