Yes, I think that approach would work.  Some users are likely to have "clean templates" created, and others would simply use an existing property, then edit the resulting copy into what they need.  This approach would work for both needs in the same manner.

It's nice to see the title of the library and timestamp of when it was published, but it would add a lot of value to have a free-form text field that can be updated along with that library.There have been idea requests in the past asking for a 'notes' section for everything that can be updated/saved...

Be sure to go in and vote/reply to this previous post:  Copy/Replicate Adobe Launch Properties (Templates)