What about?
RAR Monkey
http://www.harmonyhollow.net/rarmonkey.shtml
IZ Arc2Go
IZ already has a "portable" version that probably just needs a wrapper.
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Neither are open source so it's unlikely to happen. Especially when we already have 7-Zip and Peazip. What is wrong with them by the way?
PeaZip and 7-Zip already take care of most users archiving needs and have no licensing issues. Neither of those 2 programs you mentioned are GPL so there may be issues about whether or not it's legal.
IZ Arc2GO via wrapper might work but the license states that the program may not be modified in any way, but you may redistribute it. IANAL so I don't know