Can this M4L device idea help fix sync/latency issues with external software/hardware?

Many people have issues syncing external hardware such as drum machines and passing the audio through Ableton. The resulting audio is out of sync with other tracks in Ableton. Expensive devices such as ERM Multiclock and SND Acme solve this problem by converting sample accurate audio ticks that are delay compensated to midi and the resulting midi then driving the external sequencers. The audio passing in is thus ahead of time and can be adjusted by the PDC system to sit inline with the other tracks.

I have found that syncing other software like Traktor using Ableton Link or midi clock and feeding the audio into Ableton suffers from the same problem.

I was wondering whether a M4L device that emulates what these hardware boxes are doing could solve the same problem.

Essentially it would consist of a M4L device emitting a delay compensated midi clock signal so that the external device gets the signal ahead of time by the same amount as the overall plugin/delay (possibly also the soundcard buffer amount).

I wondered if it could be an audio device that sends a midi clock based on the transport raw ticks to a midi output.

Or maybe it sends it via an external instrument device.

Is something like this feasible? Does it make sense?

I know there are already issues with M4L and latency, would they prevent this working?

Curious to know if someone has already attempted this or would be able to help me build it.

Thanks, Tom