http://pagekite.net/wiki/Floss/FreedomAndPrivacy/ is what motivates me - PageKite is an attempt to bootstrap a peer-to-peer web where IP addresses don't matter anymore and servers can run literally anywhere, so people can actually self-host content at home without learning all about IP addresses, routers, firewalls, DNS, SSL, ...

I don't know how much bigger that is than your vision, since I can only guess what your vision is. :-) I can guess based on your design, that until now you haven't cared much about people using localtunnel for anything except dev testing.

Also, may as well publicly repeat my invitation to have a chat about standardizing a protocol around this kind of thing. You're rewriting everything anyway... bre at pagekite dot net. :-)