I understand that, what I'm saying is you'll have to spend some time explaining to the inspector how this system works, and they'll give an immediate fail (unless they're pretty lax—I know in the midwest they are not) unless you're a licensed electrician.

Mostly because 'sparkies' often wire things up like this and use random extension cords in walls and create fun fire hazards.

I agree that the installation is in 'the spirit of the code', but there are enough little variances that I would take a bet that a random inspector would not pass it on first glance.