Yes! How cool is this! I haven't used Maya's ghosting in a while and was searching for a way to ghost a whole character and Bamm! bhGhost.
Create a selection set of all your character's geo and load it into the bhGhost GUI. Hit "ghost" and it draws you up an outline on that frame. Heaps of control over the outline in the bhGhost node. It's also very fast with no slow down.
Here's the link to the mel script. Big thumbs up to Brian Horgan for this one.