[mikepurvis]

There's a company in Ottawa implementing a similar idea, but based on carving up packets and then inserting one or more redundant XOR packets (RAID-style). Their name for it is IPQ: http://liveqos.com/products/ipq/

They have a patent on this: http://www.google.com/patents/US20120201147

(Disclosure: I was an intern there in 2009, when it was IPeak Networks.)