Potential benefits:
Michael Welzl, Florian Niederbacher, Stein Gjessing: "Beneficial Transparent Deployment of SCTP: the Missing Pieces", IEEE GlobeCom 2011, 5-9 December 2011, Houston, Texas.
shows that SCTP's multi-streaming can be transparently applied to TCP connections, giving significant performance gains.
API design:
Stefan Joerer's master thesis and ICC'11 paper:
Michael Welzl, Stefan Joerer, Stein Gjessing: "Towards a Protocol-Independent Internet Transport API", FutureNet IV workshop in conjunction with of IEEE ICC 2011, 5-9 June 2011, Kyoto, Japan.
This gives an example of what the WG's work could look like: from mining RFCs and applying certain rules, we systematically arrive at a list of services and then describe how they could be incorporated in the socket API.
How could it work:
Connection establishment - finding out which protocol works: Happy Eyeballs (old i-d, IPJ article).
Issues:
If a protocol is not available / some mechanism does not work:
Connection establishment - telling the other side which protocol to use: e.g. draft-wood-tae-specifying-uri-transports-08 or, more generic but perhaps more heavyweight, BEEP
A related IETF activity:
Some supportive (in my opinion) papers and position statements: