Hi Tom,
I don't think any one RDF-in-HTML syntax would fit everybody's preferences/needs all of the time. You can of course come up with your own format and write some XSLT to make it into RDF. But I think you also have to answer 2 questions:
1. Is it worth your time to do so?
2. What might you lose by not following an established 'standard' (like RDFa or eRDF)?
If the only purpose of RDF-in-HTML is to XSLT it to RDF, then you don't lose anything, but I think there are other possibilities that standardised approaches make possible.
1. Parsers written in other languages. eRDF and RDFa have parsers in python and php - if the focus is on these standards, parsers in other languages are more likely to be written. The advantages of these over XSLT transformation include that they remove a dependency on XSLT from the toolchain, they remove a step for the developer who wants to get RDF-in-HTML data into triples in their language of choice. A custom parser may also be able to do the job a bit faster than XSLT, which might be useful in some circumstances.
2. Multiple contexts. RDF-in-HTML data has the context of the triples it can be transformed into, but also of the HTML document it is encoded in - and any other semantic html formats (eg: hAtom) that share the same document. Perhaps this is more incidental than important, but I think there might be some potential in exploiting this. Benjamin Nowack has talked, for instance, about using eRDF as a 'glue' for relating and augmenting microformats. Javascript widgets and plugins could also make use of the semantic hooks provided by RDF-in-HTML.
Also, from a semantic html evangelist point of view, is it worth the risk of confusing people to introduce a new generic RDF-in-HTML format?
For those reasons, the modular, backwards-compatible 'extensions' approach you suggest is probably a good way forward to adding features to eRDF/RDFa.