I had a blast using Shoot and yelling out commands in German to control my U-boat in SH3 - I too was planning to update/create a profile to use it in SH4, once all the patching and modding got to a reasonably stable point so I could play it again. I think it would be awesome if you could come up with a way to not only replicate the keyboard commands but to actually do mouse driven stuff like setting course to a certain compass reading (or by a certain number of degrees - such as "come right 20 degrees", or "left full rudder - steer 345 degrees"). Just be sure if you can to let the user customize the voice control phrase/triggers to whatever they want, rather than make them use/remember some arbitrary syntax that's hardcoded in - I know it was a lot easier for me to remember the commands in my Shoot/SH3 setup because I had decided what I wanted to say for the voice commands, raher than trying to memorize some commands someone else had decided on.
If you've got the skills to do this, I'd say GO FOR IT
I'll be waiting in line to download - just let me know when it's ready