Combined PITR/pg_dump backups?

I'm looking at what I want to do with backups, and from where I sit,
there are two options:
1) WAL logging/PITR
2) pg_dump using the binary protocol

The first allows me to recreate the database as it was at an arbitrary
point in time, the second allows me to recover just a single table.

The question I have is: can I do both? Not as in "backing up the
database twice", but as a combined process. What I'm thinking of is the
following process:
- I do normal WAL loging as in PITR.
- When I want to start a backup, I do a pg_start_backup(...), like PITR.
- Instead of taring up the files on the filesystem, I instead do a
pg_dump
- When the pg_dump completes, I do a pg_end_backup(), like PITR.

Single table backup would be like normal with pg_dump. Whole database
recovery would be a little bit more involved- I'd have to restore the
database from the last pg_dump, then kick it into recovery mode (I
*think* this is possible?) and recover the WAL logs.

Would this insane idea even work? Possibly, even probably not- I don't
think pg_dump keeps the transaction ids correct (why would it?), so that
could be a problem trying to recover WAL files. If it's not totally
insane, has anyone actually tried this?

Thanks,
Brian