That first video was pretty neat. I found that most of the sounds seemed like they were coming from behind me, but some with the matches and paper bag sounded out in front. Neat system that is!
Sadly, my internet (motorolla canopy wireless isp) is such that I can use voice and enjoy 600 to 50,000 ping when raiding in WoW and using Vent (800 was about average) or I can not use voice and play Planetside with 60 to 200 ping. What would be cool is if the voice part of Planetside could be run from a smart phone (like my Blackberry) so that it wouldn't effect the game's Internet connection.
High ping in WoW didn't really matter so much, but it makes a FPS game very hard to play.
I'd love to use a 7.1 surround sound system with Planetside 2, but what's more likely is that I'd continue to use my headphones, because explosions and gun fire tend to disturb the wife and kids.