granny'sbuttons, I do think your idea would work with my sewing machine method.
I stitch lines about 1cm apart with ordinary thread on a lower tension and long stitch and then pull them up. Then I stitch over the lines of original long stitches with a normal stitch to hold them, and use embroidery thread in a contrasting colour and embroidery stitch between the lines. So I could do that in a block and then lay the bodice front pattern on it and cut out.
Your hand smocking looks beautiful, by the way!
Elegran, I tried your method today just with the front bodice piece and it worked a treat! The only problem I can see might be joining a gathered skirt to a smocked, gathered bodice piece...might it be too "boofy", if you get what I mean?