I am new to home automation but curious if this same setup would work by having the arduino centrally located with the transformer in a closet and use the extra connections on the existing 4 conductor wire from the transformer to connect the new relay installed in the chime?

All this saves is some extra space and having to run 5V to the chime but one could use a larger arduino for additional automation projects rather than dedicated to just the chime.

Very nice tutorial- very easy to follow. Thanks