It's easy in theory but hard go do well. Most that work pretty well are commercial. Here's the only OSS one I know still getting significant:

http://legup.eecg.utoronto.ca/publications.php

I think then we are in agreement that it is /feasible/, then?

I imagine an FPGA in every chipset would go a long way towards writing the software to put them to practical use, though that may also be wishful thinking on my part.