We are currently trying to standardize our estimation process across multiple teams.  What I'm referring to specifically is the process for coming up with the estimate (think function point analysis).  I do know about the estimate and correction fields as well as the optimistic and pessimistic fields which I would say are of the "estimate tracking" ilk and not of estimate formulation.

I'm just looking for thoughts and feedback on the idea of customizing a workitem record to be the tool which facilitates this analysis.  I already know we could easily use it for estimate tracking, but I'm wondering about replacing say, an Excel spreadsheet with some type of RTC process.

My spidey sense is telling me it's not quite a good fit as there isn't much logic that can be put into an RTC form.  But has anyone else investigated this or have any thoughts on it?