-1 for two reasons:
1. Coming from someone who would personally love sneaking into noobs' homes and taking everything they own for my own monetary gain, Meepcraft just isn't the server to do it on, an idea like this isn't what the server is built on. People come on for a fun towny experience not prepping to not die at the hands of a crew of god armored people.
2. You said something about how normal spawn and town spawns (I assume the one town [Home] block) would be protected. The problem with that is that people would just camp at spawn and town spawns, negating the purpose of making them no-pvp.
These are just my opinions but after a bit of thinking, that's why I don't think that would be a good idea.