what might ruin it? the players.
i suppose if you pregen'd all the npcs it might work. though one tends to worry a bit about disparate skill checks. on the other hand, if the other players are playing "normal" npcs instead of heroic pcs, they might gain an appreciation for the difference. and if everyone knows that they will each get a turn, i'm sure it can be made to work out.
i recall a board game based on finding mr. x on a map of london. mr. x keeps track of his moves on a hidden score board. the rest of the players have pieces on the board. what mr. x has to show is how they moved. movement options on the board are by foot, by bus, by rail, and by boat (iirc). mr. x also has two 'hidden movement' tokens which can be used to which method was traveled by. we have always had fun before hand with it.
i suppose that if you talked the generic idea over with everyone before hand to make sure they were all on board, it could be fun.