It's an interesting approach. I agree with the comment that this approach would make the Super Stats University available to students from all over the country and indeed all over the world, because students in all regions do take the SAT Reasoning Test
College-Bound Seniors 2007
and students in all regions today have to take SAT Subject Tests to meet the specific admission requirements of various colleges.
Required SAT Subjects Tests for Class of 2011
The AP testing program is designed to be available to homeschoolers
AP: Registering
and self-studiers of all kinds
Self-Studying APs: Improving Your App
and there are distance learning courses available for essentially all AP subjects, including several state-funded virtual schools in various states.