as long as he doesnt pull a Murray in Miami and hopefully makes a QF or SF (I will be more than happy with Fed going into the 2nd quarter of the season with that), a big fat NO.
He has played A LOT of tennis these last two months. When he is losing, everyone is like "ah he is old", when he is winning people tend to take his supposed "freshness" for granted. At his age, and with the back issue and the illness he has had already this year, overplaying will be a bad idea. Especially in an Olympic year.
Federer doesnt schedule retarded, and hopefully he will stick to the same this year. NO MC please. Take April off. Two tournaments b4 RG on clay is enough. If this is about the RG number 2 seeding, again its not really worth. There is no guarantee that Rafa will end up in Novak's half if that is to happen, secondly what if Nadal goes on a tear on clay a la 2010? Fed even with a final in MC wont get to Number 2
So IMO, its not worth it. Madrid suits him, he could make a good run there and maybe the stars will align themselves if it is meant to be.