Property Graphs as (bound) RDF Datasets

Has anyone done a careful analysis of how Property Graphs [1] relate to 
RDF?   They are getting an enormous amount of buzz at the moment (eg 
here at SemTech).   I'd really like to be able to tell people they're a 
subset of RDF Datasets, and I think they are if we adopt something like 
the bound datasets proposal [2].

Below, I've expressed in TriG the upper-left portion of the property 
graph shown in [1].

PREFIX : <>    # just make all the ids be relative, for now

{ # flag this as a bound dataset
<> a <http://www.w3.org/1999/02/22-syntax-ns#BoundDataset>. }

{  # vertex properties are datatype properties:
:v1 :name "vadas";  :age 27.
:v2 :name "marko"; :age 29.
:v3 :name "lop";      :lang "java". }

# edges go in named graphs
# edge ids are converted to graph names
# edge labels become object properties
:e9 { :v1 :created :v3 }
:e7 { :v1 :knows :v2 }

{  # edge properties are datatype properties of the named graphs
:e7 :weight 0.5.
:e9 :weight 0.4 }

This seems pretty clean to me, but perhaps I'm missing something.  I 
haven't actually done any Property Graph programming yet.

        -- Sandro


[1] https://github.com/tinkerpop/blueprints/wiki/Property-Graph-Model 
(and attached in case in changes)
[2] http://lists.w3.org/Archives/Public/public-rdf-wg/2013Jun/0020.html