Everything old is new again. Magnetic trackers are fun, but they have been here already for ages.
I used to play with Ascension's Flock of Birds [1]. You can get pretty accurate 3D position and orientation.
Though these older systems were pretty expensive (~$10K), I wonder what would be the price of these new toys.
[1] http://www.ascension-tech.com/realtime/RTflockofBIRDS.php