I was thinking of doing something similar to that. I was just worried about how to detonate the large bombs since it seemed they won't just go off if the wyvern falls into the trap. However, with the small bombs, that sounds perfect. Alternatively, though, we could have our gunner (you

) set up at a nice camping spot and keep the first set of barrels in his scope and nail the sucker when the wyvern is trapped. Then, immediately, us melee can run in with large barrels, set up one each, drop a small bomb, and run like hell. Rinse, and repeat and I smell victory.
I suggest people start gathering free barrels from the little melynx (cat people) areas on the various maps. Gunpowder can be made by combining Nitroshrooms(which you can get in the Forest Area 3, close to area 10) and Fire Herbs (which I'm still not sure how to get consistently). Also collect Spiderwebs and combine them with Ivy to produce Nets to combine with trap tools for pitfalls. Sorry if you know all this stuff already. I just wanted to post a cost effective way of saving up for future wyvern fights. So next time you go mining, don't forget to spend a little time gathering a few other materials. ;)
Also, I'm going to "attempt" to do a little translation of the pensil MH site that deals with trading to the old man in each area (for example, Area 7 of the Forest and Hills map). Apparently you can switch out rare materials for specific other rare materials which could make life alot easier for those seeking certain parts to craft with. Now if this is in the Bradygames Guidebook already, I'm going to have to pick the sucker up this week.

EDIT: FIRE HERBS not Sap Plants. ^^;