This mod is best applied to the 500/550 bikes. I have done it before, in the 1990s, when the Schottky power diodes first showed up (and were more than $25 then, which would be $80 now). If they are now just $6, it might be worth turning it into a product for those bikes?
The one thing to remember about this diode architecture is: they do not handle surges well, and they are often limited in PIV rating, so you must "go big" relative to the loads involved. Heck, in 1994 the biggest one I could even get was 10 A rated!
You can also use germanium diodes (like in the early bikes, the twins), which have a 0.3v forward drop. They have become expensive lately, though, as germanium is being sucked up by the supercomputer industry these days for faster chips.