Dave, looking at your idea for this week:
http://www.unicopter.com/AeroVantage.html
I notice that the machine magically appears from hover to cruise state - perhaps with the same post edit "ping" that masked so many cheap effects on 60's TV Sci-Fi series...
I still think that if you want the best transition performance you need a low front rotor and high rear rotor, to avoid interference effects. Keeping the rotor/prop hubs at the same position in space will also simplify the drivetrain. Even so, the penalty of carrying those wings around in hover will be high.
But i see what you are trying to do, take fixed wing performance and give it limited VTOL capability for short duration hover. If a seperate engine drives each diagonal rotor pair you also maintain some failsafe capability.
But the verdict still has to be: Too complicated...