My team has been using the Web Audio API/Getusermedia in a product and we are going really well with our chrome and firefox users. But we still have a large base of users th
It could easily be done. Node is simply an IO engine designed for rapid response. If it needs to happen in real time then I imagine latency would be a usability-breaking issue due to networking restraints. If it doesn't, then I think it would be a great solution! :)
Either way here are a couple related resources
https://www.npmjs.org/package/webrtc.io <- latency optimization library intended for work with media streams
http://wac.ircam.fr/ an upcoming conference (Jan 2015) dedicated to the types of problems you are dealing with.
http://www.sitepoint.com/5-libraries-html5-audio-api/ A few web libraries for use with audio. #3 and #4 look like they are related to what you are trying to do
You can try using this (is in development):
https://github.com/sebpiq/node-web-audio-api
Installation
npm install web-audio-api
Demo
node test/manual-testing/AudioContext-sound-output.js