If you limited it to enforcing style on braces and indentation, then I think it's a good idea. However, if you were to try to enforce every single formatting standard, then it probably wouldn't be. In my opinion, there are times when it makes sense to break the standard. For example, I prefer
int x = y * z;
to
int x = y*z;
because it's easier to read. However, I vastly prefer
int a = b*c + d*e;
to
int a = b * c + d * e;
because the spacing represents the order of operations.
So your policy of enforcing indentation and braces sounds really good. But if someone ever tried to blindly enforce other spacing rules, I don't think it would work well.
