yep, should be sound.
I had a shimano dx hub (the black one with red DX text) and the current odyssey cassette hub sprockets fit it as well, so you can go down to about 14T (maybe 13T?) You could then put a 39T or 36T front sprocket on to keep your 44/16 gearing.
There's probably other hubs out there using the same sprocket spline setup, I'm sure someone else on here has had a go.
Alans do these sprockets. Probably Custom Riders as well.
Hope this helps,
Brian.