Tamiya did one and was very promising, Alan Harman and Ellis Stafford used it in the 90s and was consitantly making the A's, however Kyosho did one of these as well and wasnt very promising, hence why it was dropped, however for a design point of view its a good one to do.
A couple of guys on the RC10 Forum have already done this and converted a B2 and a B4 to 4wd using belt on the front axles, and pretty similar to your design.
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