That's certainly the route I would choose to go if we ended up having to pull new wires. The problem is that it's a detached garage, and the current wiring from the house is in an underground conduit under a concrete walkway and stairs. So, not wanting to tear up and re-pour concrete, if I were to run new cabling for 240v/40a service, it'd be a new above ground conduit, and trying to find a way to route that from the house, across the walkway, and most importantly, carefully across a rockery planted by my wife so that it's not an eyesore.