I think you read my mind lol
i've been working on something very similar for a while now

(Though i'm just making it as a mini-game to something bigger)
With the way I'm doing it, actual danmaku (with more than 50 bullets at any given period) will make maintaining 60fps for the game really difficult
This is because of the way drawing directly on the desktop works (on windows XP with GDI+ framework at least)
1. grab the screen after every window updates themselves
2. draw on this "screenshot"
3. display the new screen
These take way too much time compared to normally drawing on a window, which means you'll need to set a really low limit to your game's bullets
- or you'll require really high specs for your users to just play it (not the way to go)
- or you'll require users to be on at least Vista, methinks it has something to do with how drawing the desktop works differently in that and windows 7 - powered by the same DirectX used for rendering games
But I'll leave questions here in hopes of helping you in one way or another
- what language will you be using?
- how exactly will you be drawing on the desktop to begin with? (there aren't too many ways to do this)
As for allowing user-created content, you have me interested there. I'm not exactly sure what BulletML and Bulletmorph actually are (I just assume they are pretty similar to danmakufu), so i was wondering what you meant by "using them"
You can make something that can run scripts made for those?
[edit]
forgot to mention something really important, if you really want a danmaku game (that isn't too easy because of low bullet limits) I would suggest doing it the same way most of the old desktop games so far have done it:
*take a screenshot of the desktop -> use it as the background for the game
That is simple enough and i've already done it on Game Maker for fun
Though i'm really interested if you can find a way to do danmaku on the desktop and maintaining 60fps on it, pretty big challenge ^^
[edit2[
removed edit and decided to make it a separate post to bump the thread