I am hoping to do something similar through the DAAD, which would look great on any CV. I am not too keen on the year off, though. The major issue that I have been thinking about is how it would look to not have written a thesis when applying for PhD programs. When I asked them about this they seemed less concerned about that, and more concerned about promoting themselves as a step towards American schools for PhD programs. They are the only school I applied to that has been so big on encouraging me to go state-side for schooling, which I hadn't previously given serious though.