> Do you see any problem with this approach?

-sensitive to all kinds of interference. 
-pressing a button can take the input voltage "through" the region of
other buttons
-did you calculate the required accuracy of the resistors?

> Anybody used something like this before? 

yes, I used nc-busbutton so I need only 2 wires and can detect a broken
wire

> Any other option you can suggest 
> for multiple buttons, 1 pin and no additional circuitry?

no

Wouter van Ooijen

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Van Ooijen Technische Informatica: www.voti.nl
consultancy, development, PICmicro products
docent Hogeschool van Utrecht: www.voti.nl/hvu
 
 

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