As long as ns#.domain.tld point to dns servers I don't see why not?
As far as I know you only need to register your vanity nameserver at one location. Then you point the nameserver entries to the dns servers you use.
There has been an interest in a windows version of the script being developed. Is there anyone that would be willing to donate a vps or small dedicated server as well as a windows 2003 server and potentially 2008 R2 or 2012?
Setup outlook.com with your own domain? https://domains.live.com/ (Free)
I've heard some people also like Rackspace's email hosting (not free but fairly cheap).
http://www.rackspace.com/email-hosting/webmail/