That is a sort of solution that I proposed yesterday on the mailing list. The solution essentially takes lots of samples of the data and then plots the mean and standard deviation of the independent samples to get the probability of the histogram selectivity estimate.
The problem is multi faceted (outdated stats, bad guess at distribution of data, cases Merlin mentioned before (CASE statements, COALESCE statements etc.). Finding a general solution to this problem shall require a lot of research and time.
I agree with Tom, we should focus on some of the main problems we have in that domain and then try to solve them first.
Regards,
Atri