Yeah, I think we do. I hope we can leverage libguestfs and virt-v2v for at least some of this.
fwiw, Marek's been thinking along the lines of libguestfs, even for our normal appliance creation. Instead of starting from scratch with each appliance, just copy and crack a base JeOS/AOS appliance, then start adding packages to customize.
Sorta thinking this could go towards our response to susestudio.com also, to improve appliance creation times.
-Bob