Huh, I've been into Commodore stuff for over 20 years but haven't stumbled upon this one until now. As a matter of fact if the data track contains only a single program file it might be loadable even straight from vinyl: Back in the days some software houses tried their luck by releasing small selection of Commodore 64 games in audio CD format which were loaded simply by giving C64 a loading command and playing correct track with regular CD player hooked to C64 with RCA to tape port adapter included in the game package. As the signal form C64 takes in from the tape port is just a pulse stream I don't see why one couldn't feed it from LP aswell, although I guess used record player must have inbuilt RIAA amplifier as without regular line level output the signal strenght might be too low.
Utilizing unusual formats as a data storage haven't ever been unusual thing in computer world, as an example you might find Amiga Video Backup System
rather interesting. My friend who was a swapper in Amiga scene during 90's said this system was used a lot among certain cracking groups as even when anti piracy organizations were busy swarming around mailed floppy discs like bees not a single tape got ever busted :lol: