Good for the environment. . .but will it be successful?

So I am considering the strange idea of indoor vermicomposting. I know it may sound weird, but basically you can build an indoor composting system using redworms. It may gross some people out, but it sounds really easy. You just use two smallish rubbermaid bins, drill some holes, add some newspaper and a handful of dirt, and then add vegetable and fruit kitchen scraps as you make them. The worms keep it from smelling, as long as you don't overfeed them. From what I've read, people haven't had added household pests. It can be kept outside as long as its not too hot or too cold. (Which may be never here in Illinois.)It would cut down on garbage that goes out each week, hopefully cutting disposal costs. It would allow us to make our own natural fertilizer for our plants, which I think would be very beneficial for the rotten soil we have in our backyard. And like it says in the title, it would be good for the environment. I'm not sure if I could stick with it though. . .would I just be starting another un-enduring habit? I'm interested to hear what people think about this.