Free form editor – wiki like

I’m looking to have an open editor (open for approved editors anyway) but have one large textbox.

It’s to keep information on particular venues.

I’ll have rules around layout and formatting but I think having it as one text field vs many database columns will be easier. The way I would have previously done this having a column for name, phone, email, location, image1 etc etc.

Now I’m thinking of doing
{T}Venue Name{/T} and my php will replace {T} with <h1> for example.

{ctcList} will create a DIV with a unordered list for example.

Looking for some feedback on this approach. Is this workable or are there major flaws in this?

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