Saturn,

The tech has been demo'ed by Tomlinson Holman (T and H of THX) a while back:
http://www.smr-home-theatre.org/surround2001/technology/page_11.shtml

I remember reading about a store back east that had successfully built a demo theater in 10.2 using a computer as the processor for about a quarter mill. No idea how much it would cost to actually implement, but it sounds like Amie may have some cool news for us.