Warp text to path

[cliffaddy]

I've done some searching around but haven't found anything. Is there a way to put type on a path such that the text actually distorts instead of just aligning the base of the letter with the tangent of the line? For example, the top of an H would be wider than the bottom or the bottom of an wide letter would be curved when arranged on the outside of a circle, like when plain text has the Arc warp applied.

[tromboniator]

Outline the type, add a no-stroke/no-fill rectangle of the same dimensions beneath the resulting group, and create an Art Brush. 

Peter