Yes the idea has been done before but so has a shot of a flower, mountain etc. etc.
I have even taken this kind of shots before but with a meaningless ring and non relevant Bible passage.
www.flickr.com/photos/hnisc/233979067
I decided to differentiate the shot from the others by using my wife's engagement ring. The passage 1 Corinthians Chapter 13 v. 1-13 was also a reading at our wedding and is quite appropriate for this shot!