It might be fun to play with in small batches. I would suggest using an ale yeast to produce more residual fruit flavor, and dry hopping with a fruity or citrusy hop to accentuate the fruit character of the wine.
Nectar of the Hops, a delicious Redstone mead, is dry hopped, although I don't know what hop they use (or how much), and the flavor and texture of a mead is quite different from Apfelwein.
I like the idea - I think I'll be making a 1-gallon pilot batch of this soon using some leftover Cascade hops I have stashed in the freezer.
I am thinking the following:
1 gallon of pasteurized White House Apple juice from concentrate, no additives
1 oz of dark brown sugar, dissolved in 1 cup of boiling water along with 1/2 tsp of Wyeast nutrient
16 oz orange blossom honey
My custom blend of Koelsch and Cali Ale Yeast
3 drops of Defoamer 105
0.2 oz Cascade pellets (dry hop after 3-4 weeks of fermentation).
I'll make this in about three weeks (the next time I bottle and make a new batch of regular A-wein - I'll just steal some of the existing yeast cake to make this hopped batch with). Compared to my regular recipe, this one cuts down the brown sugar but WAY ups the honey, to give it a more mead-like taste and complexity to blend and complex with the hops.