i'd work on the .wmb instead. Its pretty easy to edit anything inside the .wmb format. For editing blocks you would create them in GED, texture them etc, and then you can open up the .wmb, find the 'bsp_blocks' list and edit the position, texture flags, light flags etc.
This is going to be something i might consider implementing in my own editor, although i don't really understand the value of blocks? Shouldn't we always use models?