Oh, f**k yes.
Rip the shit out of all the assets from that game. I completely support you in doing so.
As a level designer with experience in Unreal Engine 3, I was super pissed off that 'A:CM' never had any mod tools or SDK released. When people like yourself strip the guts out of A:CM, all I can say is Congratulations.
A:CM could have been a modder's paradise. We'd all be playing on custom content if it had tools for it. f**k 'em, I say. Keep up the great work.
Yours isn't the only clandestine Project around. It shouldn't have to be this way but the only way we will ever see such tools released for these games in the future is by having people like yourself demonstrate there's a strong desire for it.