It is possible to make phpBB login to CB as well... but as mentioned you would need to either hack/MOD phpBB or modify the templates to redirect to another login.
It is possible to do... just wanting to stay away from hacks and MODS so that future upgrades are more independent... (just because we don't provide it doesn't mean you can't write it)
You could probably peek through the login module and figure out how CB logs in.