Yes I think so. Rather than encoding the function source, I could encode just the start/end line/col. Then I could ship all of the source maps to the runtime and consult them to extract the original source.
Depending on how expensive it is to tokenize my var __qp_functionToString = long string, this could be somewhat faster than my version.
A missing bit of technology that would make the sourcemap approach a winner is some way to synchronously call back from the runtime so that only the sourcemaps that actually are used need to be transferred.
Sourcemaps are more about communicating information from an external transcoder to the debugger. In my case the transcoder is sorta built-in to the debugger so I can do things that would normally require sourcemaps more directly.
jjb