I don't know. I think that if you built the receptacle right, It could probably work pretty well... Most deadbolts are pretty shit in general (rare to see people reinforce the jamb), so, even an naive attempt probably wouldn't be that much worse. For a metal door with a chunky insert, I think it would work fine. For any other kind of door, I think you'd probably need at least a frame or large plate to distribute the loads, but it's still probably wouldn't be much worse than a conventional configuration. Huh...
I guess the main complexity (or just oddity) would be the keyhole wouldn't be on the door.