Personally, it seems rather unnecessary to do it that way when some of those changes could likely be better implemented through entries or a direct submission form (which could then either forward to a proper email address or possibly some kind of document management system).

For non-attachment assignments, things like the length limit and lack of formatting are covered by standard community entries; the only issue with submitting assignment posts straight to the community is that they might get difficult for the instructor to pick out after a while. (And I think posts also have a character cap, it's just way higher.)