What JP wrote is a great proof of concept. It impressively shows that even games which make use of all the motion+ features could be played well with only a keyboard. The implementation suffers from a few issues, tough (the IR cursor support needs to be fixed); also, I'm not 100% sure about the design. Especially, I'd do the hotkey assignment the other way round (not "do action A if key1 or key2 are pressed" but "do actions A, B, C if key1 is pressed").
So, I think it can work well and it will some day, the question is just how soon someone surfaces who wants to write it (I don't want to ;p).
So, I think it can work well and it will some day, the question is just how soon someone surfaces who wants to write it (I don't want to ;p).