So while I was not working on Phaedra's List (work has been pretty busy for the last few weeks and I've gotten no work done), the fact that Rawr, a druid modeling project now has a module for mages too was brought up on the EJ mage theorycrafting thread. And it turns out that it does most of what I'd wanted to achieve with Phaedra's List. So I guess I'm putting the project on hiatus, especially since I still don't have time at the moment.
This is not to say I won't come back and work on it... I think that there's a definite niche for the tool but I don't have the time to work on it right now. And a proper implementation of the gear parser (quartermaster) would definitely allow for a backend for something like Lootzor... and it could be kept up to date too! (This being an outstanding issue with Lootzor...)