I would like to see and would even help put together a eagle pcb library DB. Just a thought.
Sparkfun puts their Eagle library up on open circuits and updates it occasionally. You can download it here:
do you mean the entire eagle library as a searchable database? It might be useful though you can search in the add dialog (or what ever they call it).
What were you thinking of in terms of features? I suspect the project is a lot more complex than one would think.
Phil