Aren't you going to a lot of work to reinvent something that TOAST already does for you? (At least, in the cases where the text fields are wide enough that it really matters.)
I know. But I have several text fields in the 20 to 200 characters, which is too small for toast, but large enough to make up about 90% of the table size, which makes it problematic RAM-wise, especially since it's gonna grow. Now, if I had 1 big text field, it would be TOASTed and I would be happy ;)