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the issue i forsee with that is that each application would need some sort of unique serial number that identifies itself with the phone as well as the account being used. This solution almost seems as if it's more trouble than its really worth.
I see a big problem here,lets say that I gave my mobile to my syster because I bought a new one and she uses her SIM card with her phone number.
As you say she needs to pay for all installed applications again in order to use them.
Google needs to find a solution that will allow to use those apps even if I change the SIM card on "Authorized phone".
I don't see the logic here. Why do I need to pay and install all applications again when I use the same device?