I think, at a minimum, it would be a good experiment. Hey I know, they should let more of us into the Beta and let us try it out
But it seems to me that it would just turn the AH into a lottery for the sellers and buyers. It would take too much control away from both parties and would probably be less fun. I'd like to think that I COULD buy something out if I wanted, but I choose to bid. As a seller, sometimes it's nice to just do a fire sale and get rid of it, or to put up an overpriced item and wait for that sucker to come along and buy it.
I DO think removing buyouts would be a somewhat balancing feature, but I also think it would need to come with removing minimum bids for it to be truly equalizing. For completely un-skewed curve, you would need every data point from zero to the crazy high price of an item. To that hypothetical guy who just sold his IK set for 5g . . . sorry man, statistics are a biatch.