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Jerry,
We are acually looking at a way of standardising hooks over at Module Development, this would be extendable, so that not only the core would be able to use hooks (we are currently looking at search, rss, waiting contents for starters - newsletter would be easy enough to add) but you could write a module that has it's own hook, and all you would have to do is ensure that other modules supply their own hook plugin.
Hope that makes sense.