Once the schedule has been created, how would you tell which elements is applies to?
Select the element > Highlight in Model
Can it be modified? Yes
What happens if you add or delete a nearby element? I don't follow?
Would this schedule carry over day-to day? Potentially, but not likely. The context is to quickly review a selected sample set of elements and their alignment with a created schedule. This would be a "working" schedule.
I'd propose a change to your Idea:
Rather than create a new Schedule based on your current selection, how about filtering an existing schedule to show only selected elements? Filtering an Existing Schedule by Selected Elements is the idea. You can select elements on the Schedule and "Highlight in Model". How about going the other way?
Select elements in the model, and "Filter Schedule" This would definitely work in some scenarios. But the issue we keep running across is that some elements have "incorrect" parameters or their input units / format don't align etc. This is more of a QA/QC check and needs to be quick. But I like your idea for sure.