Yes, it should definitely be done!
A lot of languages have various different accents and it is not only accents but all sorts of diacritic signs that can alter the pronunciation or the meaning of a letter:
http://en.wikipedia.org/wiki/Diacritic
They are sometimes not possible or difficult to type(and many do not know how to do that) if you do not have the keyboard of the corresponding language. and even if it works, it is a different thing to type only once for tagging the songs and, on the other hand, having to type those accents/signs each time for the search. it is simply too annoying.
The main problem with the search in those cases is that some titles or artist names that should have diacritic signs are tagged correctly but others are not. Because of the typing difficulties diacritic signs in the tags or path are very often set wrongly in a grammtical way or they are not there at all.
That's why you normally want all those letters with diacritic signs in the search results as well when searching for the "base" ones, orherwise you may not be able to find those with accents/diacritic signs at all.
The developers should change that as proposed here as soon as possible.