Players before you have tried. The distances between towns are too great. The cost for the towny land is too much and it's too hard to decide who pays for what. The building materials would be expensive. This was when MeepCraft had 400+ players.
Now?
You don't have enough towns to connect with enough players to utilize it. The prices are still high but the economy isn't as robust/active as it was before.
Inter-town travel works but it won't really be utilized and any lag will make the system pretty much un-useable.