Right now, I have a rule to set the node as private or public based on a CCK text field.

This CCK field is properly inherited from the parent node using Inherited Formatter, but the rule to set privacy in the child nodes (based on the value of this field) fails, since the field only displays the value, rather than storing it.

Could a rule be added either through this module or a separate module to create rules based on the condition of what the field is displaying, instead of the field's stored value?

This would allow the parent event type (I am using) to set the privacy of child event instances that are created with the iCal module. It could also allow for some other cool things, like setting taxonomy based on the inherited content that the field is displaying (but not storing).

I'm hoping this could be a simple addition to rules...