It is indeed a nice modifier (and a nice tutorial you’ve got there)
Personally, I really think there should be a way to UV map an object with a “weight map” which you can bake to form the vertex groups. It is such a paint to use weight paint otherwise. It really is about time this feature is included as so many things use vertex groups now!
For now, your script does the job but I would love to see a more extensive and complete “interpolate” script included in Blender. Weight painting needs improvement!