My problem with this is that its yet another diversion getting in the way of tri monitor & surround view systems that will eliminate the need for 3rd person perspective... if it could only become standardized.
Now the idea... Yeah, I like it. Sounds exhorbitantly expensive with low return on investment. But it could potentially be cool. However one thing I didnt see that would need to be key or the whole thing is pointless is omnidirectional treadmill system. It Seriously will not make a difference how motion controlled it is, or how the view scope is.. Until you can walk without running into a wall, its going to be limited and still hold something that pulls you out of potential immersion.
A bigger version of this would work too
http://en.wikipedia.org/wiki/File:Cybercarpet_walk.jpg
http://en.wikipedia.org/wiki/Omnidirectional_treadmill