This has not been brought up yet no, but you make some interesting points.
I have thought about this before, but I think it will likely still need to remain two seperate K2 installations in order to preserve save integrity and eliminate the need to make the above changes.
Given that I already had two free-roam type expansions planned for both games it seems unlikely that I could provide seamless gameplay or transition between them, thinking about the time frame between the two games also makes me think it doesn't need to be done.
As well as this, both games follow different characters, so it wouldn't make much sense, or it would have to loop back to a new character creation screen, a lot of global variables would need re-writing, duplicating and possibly renaming, for the sake of development I believe the best choice is to go for making an installer that does the following :
Verifies K1 & K2
Duplicates K2
Copies Necessary Files from K1
Deletes K1 ( Optional )
This would leave the user with two versions of the "kotor2.exe" in different folders pertaining to the K1 EG and K2 EG projects overall.
So the short answer is no, it won't, but I did think about it.
I still need to re-play the first game to see how well new planets would fit into the story-line as I get a strange feeling the first game is just as on-rails as the second, it has been some time since I played the first game.
@JediArchivist Thank you for the example, there are many a mod that have taken this route, I personally would take this route to save space for the over-all download over any other reason, but it is also a safe way to avoid legal issues at the same time, serves two functions.
Thor110