Wouldn't that constrain you to fixed-width layouts then? Or are there grid systems for fluid layouts these days?
Not surprisingly this "system" (this word really makes it sound more than it is) can be found on one of the CSS Lint creator's Github: https://github.com/stubbornella/oocss/blob/master/core/grid/...
While simple, it's definitely way more elegant than some of the grid systems I've seen built, such as the popular 960 fluid grid layout that ultimately generated nearly 800 lines of CSS for 5 columns.
It also goes hand in hand with the core principles of OOCSS, which essentially states to extend classes and use multiple classes per element.