As someone who just finished reading Snow Crash today (great stuff btw, can't wait for another Stephenson's book) I'd be thrilled to see this and try it in action.

As someone who's been into martial arts for some time I'm very sceptic about this. There's a lot more to realistic fighting than just swinging and clashing swords: footwork, body movement, weight transfer...

Nevertheles, even if it won't turn out to be perfect it could stil be a lots of fun. I'll be watching their progress.