centre line trace??

MAX Sneaks had something like it: https://www.youtube.com/watch?v=S6uUXy4051w

I've never seen any vector drawing application be able to automatically generate an accurate center line effect in existing lettering. It goes right along with various inner bevel effects never being able to go all the way at creating an accurate "prismatic" effect without the letter joins and intersections getting bowled out in a visually horrible manner. It takes a good bit of human subjective judgment to place the center lines in the correct postion. Unforuntately that translates into having to build custom center line effects manually using various, arguably tedious methods. In the case of the sample script lettering image, the center line would have to be laid down by hand. The computer won't know what to do with it.