I second idea with systemwide, with activation on proximity sensor cover. Disabling click on hildon-home is a no-go, it would be PITA when using external mouse (or any mouse-like thing) via USB hostmode or bluetooth.
There already is 100% working daemon for recognizing proximity sensor state (not using much resources, in fact, almost none at all), so this part of idea may be considered done. It's "only" matter of incorporating feature.
BTW, as it was mentioned in some huge thread long time ago, it *is* possible to create multitouch ffor resistive screens. When you touch resistive screen in 2 place, actual "sensed" place is exactly in center between them (so, if You touch left and right part of the screen, device will sense 1 touch on center). Using some complicated algorithm, it's possible to recognize when there are many touch points at once, or it was just quick change of touching place. Someone (maybe qole, but I don't know for sure) ever mentioned devices, that incorporate that. If something like *this* could be done, that would be real overkill.