Yes this would help with repetitive field creation in many ways, but for registration type forms especially.
Having created just such a form for my sons rugby Club, I'd be interested to know if anyone has a better way to structure them to get better data out (Not a strong point of Mach Forms build in data views!).
So I have my form set with fields for parent/guardian (inc address etc) and then up to 4 players (Name DOB etc). But these all output to one form entry, which when then exported to excel (for the membership team) requires some work to extract the players to individual rows, such that they can be sorted (by DOB ) and sub divided into age groups. I know of no way around this and keep all 'players' on one payment at the end of the (multi-page)form.
Have you got payments on your form Stuart? Would be interested to know how you handled this!