Ummm but the baking would take hours uppon hours, infact baking is significantly slower than rendering form one camera with fg on. And youd be no closer to flicker free renders, infact youd probably be rendering longer for wrrse quality stuff.
Tough i CAN see some use for this. Imagine its a animation of something youd use a LOT then you could animate the lights only to simulate a 256 different lighning shemes, and because light is additive you could prettymuch simulate many more by combining the resulst so NOW whan you need the sequance youd allways be able to put different lightning on it easily and quickly. BUt theres not much use fro this unless its going to be a game, or its a tv show where the same quite static thing is shown regularyy in different contexts in 100 of several min shots every single episode.