Ultimate Branding - Edit WordPress's default email notifications

One area most often overlooked when customizing a site are the email notifications. WordPress's emails aren't great. They could use some work.

It would be great if the following could be implemented in Ultimate Branding:

- change the from name and from email address for outgoing email notifications. Globally and on a per email basis.
- edit the design and content of each email notification, including the subject line. Offer a WYSIWYG editor with smart tags to customize the emails (like MailChimp's editor)
- Compatibility with SMTP plugins
- Translatable emails

What do you think?