There is a small issue with the number of additional network requests this could generate.
I would suggest sticking with font files by default in Adapt and adding architectural support for SVGs. Being able to use icons in an identical way in the LESS (with a singular API) regardless of their source. So icon-tick could come from either svg or fontfile depending on your needs.
We can then use SVGs in Matt's font error situation and in Thomas' animation situation, but those use-cases will still remain edge cases rather than the norm. Swapping between to those two types could become relatively easy as the font declaration API would allow you to delete one set and immediately replace it with another.
http/2 over tls would make the request overhead relatively meaningless, but that entirely depends on the server infrastructure now