Well. after some fiddling, I can confirm that this thing works
I still need to figure out how to simulate the nintendo "sensor bar" to improve the accuracy and control (The two cendle method is cute but it won't work for me ... ) but even placing a pencil flashlight under the TV makes it work pretty good.
Now's the time to figure out how to make it "follow me" compatible, which will make it the perfect sollution for the system (in my view at least).
BTW, is there a way to make the power button shut down the MD ?