You can give it a try. And see what happens :)
Crosses seldom give great results and here is why, first of all the body of a wild is narrow by betta standards.
So you will not see great fish in the F1 next is the color layers, it would make sense to get the purest lines you can and know their history at least as far back as 8 generations because of all the blond lines and marbles that are in a lot more fish than you would believe....due to the fact many people have crossed with Cambodian that would have been the best option had it not been so outcrossed into red.
It might be good if you really have to, to cross to the melano..which I have a genetic theory on, the red falg being geneder sensitive, I believe that the original melano had a damaged gene and it expressed partially causing the females to be sterile..I have no proof as of yet but all things point in that direction.
Also know that the first long fins out of Plakad and the wild specimens are Veiltail which is a dominant gene, so it will take a few gens jus to get rid of that...but it is well worth the work I believe as long as one has the time and space to persue this, I also breed tomatoes and I can tell you many things happen in the F2 it is also a numbers game, to see all the expressions in an F2 you have to plant at least and the very minimum is 64 plants, as far as bettas, the odds are stacked against you because a lot of the weaker fish will be holding the most genetic diversity, so keeping the runts alive is critical and that isn't easy!!
Good luck, and keep us posted!!