Found this on another audio forum, found it interesting. his was the best imaging demo I had ever hear. Searched into it a little later and apparently this type of recording is referred to as holophonics. Works best with headphones, however I suppose a well tuned/aligned system could mimic it as well.
http://www.sajithmr.com/downloads/Barbershop.mp3
Imaging
Here is a link use the same technique, but with music. You can see the 'dummy head' in front o the guitarist
http://www.humblevoice.com/video/theatre/?mid=113444
http://www.humblevoice.com/video/theatre/?mid=113444