Rails - May 2013 - Model Versioning + Scheduling

Has anyone attempted a model design that incorporates both versioning and 
scheduling of model changes?

As an example implementation:

Each model version has a publish_on and expire_on date, the latest version 
that should be live, is presented.  

id content_id     version    publish_on       expire_on      content
1  1                       v1            1/2/2013          nil             
         foo
2  1                       v2            1/4/2013         1/7/2013         
  bar

On 1/1, there''s nothing published/
1/2 to 1/3, version 1 is live, content = foo
1/4 to 1/6, version 2 is live, content = bar
on 1/7, back to version 1, content = foo

This would handle: the idea of promotions, scheduled changes, old content 
removal, and provide an audit view of old versions (similar to the idea, 
but not structure of papertrail).

I would rather not reinvent the wheel here, but I am definitely open to 
suggestions / thoughts.

Thanks in advance.

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