You're right on the money. Lab actually works on top of a plugin framework code-named "Coden":
http://ephere.com/plugins/coden/
This will probably be distributed freely and it is able to use Lab templates just like right now, in fact Coden is first installed and then Lab is installed in addition to it. So your description is pretty much what the plan is.
Marsel Khadiyev (Software Developer, EPHERE Inc.)