Wouldn't it be just as easy to BCC everyone. They would still think it went just to them and reply to you?
There are a variety of problems with BCC. It's the opposite of what you say in my experience, when people are BCC'd they don't know who the mail is to, so they assume it's not important. Plus, a lot of people have custom views that look for their name in the to/cc fields and color those messages differently or make them stand out; with bcc, you'd lose that.
Wouldn't you know it, KC, but I needed to do something like this just today! I couldn't resist adding a few improvements: My version at http://www.outlookcode.com/codedetail.aspx?id=869 works from either the selected message or an open message (so you don't have to save in Drafts if you don't want to). It uses email addresses not names (which are not a sure thing) to address the messages. It preserves the formatting in HTML messages. And it avoids Outlook security prompts if you run it in Outlook 2003 VBA by deriving all objects from the intrinsic Application object.