Oh certainly. If anyone feels their idea isn't up to snuff, than by all means, submit an improvement.
EDIT: Scattman, that's a bit... well very basic. It's not possible to begin with. Another problem is that even if it were, Mercenaries only has 1 family of monsters rather than the 3 FFT had. Now another problem is that Poach no longer exists. There's a new system in place called "Bounty Hunter" where certain "marks" in battle (randoms, sub-quests, even some story missions may have them). That can be "captured" sent to the "Warden's Office" and dependent on who the mark was, receive one of two "tickets", It's basically an overhaul of the Poach system, that follows most things in that ordinary system and changes it.