Mike,
I strongly suggest staying away from this approach, as it is not intended use case of contentItem type.
If I understood Charles' approach correctly, contentItems should leverage core access to distributed content to provide centralized features like taxonomy, search, comments and rating. Unfortunately the current implementation has never been completed to support all these features and also suffers from an IMO important design constraint: instead of storing content, DNN should provide an interface to query the original object for content representations in required format (e.g. plain text, HTML, summary).
Note: Metadata is not intended to be used as property store, but store metadata according to a standard like Dublin Core (see http://en.wikipedia.org/wiki/Metadata...), in order to create an interface with other content stores or for translation.
I hope, we will get a chance to implement this properly for DNN next.

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Cheers from Germany,
Sebastian Leupold

   

Speed up your DNN Websites with TurboDNN

there is a master table for metadata types, which is specifying the options and it should be limited to properties defined in the metadata standard you are using.

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Cheers from Germany,
Sebastian Leupold

   

Speed up your DNN Websites with TurboDNN