There is absolutely no reason this should not be done. It works great in LOTRO and I think DDO? You don't want to hear someone you mute them. You don't want someone to listen to you, you don't party with them. You don't want to talk, you say your mic is broken.

It's awesome.

Also, I don't see how on earth it would be complicated to have voice chat going from a ps3(which has different software/coding than the pc version(I'm sure) to the server and then having pc version go to the server and then communicate.